PNC Financial Services Group Inc. Has $17.78 Million Position in Constellation Brands Inc $STZ

PNC Financial Services Group Inc. lessened its stake in shares of Constellation Brands Inc (NYSE:STZ) by 11.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,310 shares of the company’s stock after selling 13,912 shares during the period. PNC Financial Services Group Inc. owned 0.06% of Constellation Brands worth $17,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Arlington Partners LLC bought a new position in Constellation Brands in the 2nd quarter worth $2,333,000. AlphaQuest LLC grew its position in shares of Constellation Brands by 350.7% in the second quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock valued at $842,000 after purchasing an additional 4,029 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Constellation Brands by 969.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after purchasing an additional 75,834 shares during the last quarter. 49 Wealth Management LLC bought a new stake in Constellation Brands during the 2nd quarter valued at approximately $373,000. Finally, Heritage Investors Management Corp grew its holdings in Constellation Brands by 6.2% in the 2nd quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock valued at $23,886,000 after buying an additional 8,613 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group cut their price target on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Bank of America cut their price objective on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a research report on Wednesday, September 3rd. Citigroup decreased their target price on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. BNP Paribas cut Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company decreased their price objective on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and an average price target of $186.44.

Constellation Brands Stock Down 0.6%

NYSE STZ opened at $128.97 on Friday. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $245.31. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 0.39 and a beta of 1.75. The stock’s 50 day moving average is $136.23 and its two-hundred day moving average is $159.67. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The business had revenue of $2.32 billion during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. Equities analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s payout ratio is currently 59.56%.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.