Aberdeen Group plc Acquires 6,495 Shares of Constellation Brands Inc $STZ

Key Points

• Aberdeen Group plc increased its stake in Constellation Brands Inc by 4.9%, now holding a total of 138,243 shares worth approximately $22.5 million.
• Constellation Brands declared a $1.02 quarterly dividend to be paid on November 13th, representing a 2.9% yield for shareholders.
• Brokerages have varying ratings on the stock, with Needham & Company reiterating a "buy" rating and setting a target price of $180.00.

Aberdeen Group plc increased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 4.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 138,243 shares of the company's stock after acquiring an additional 6,495 shares during the period. Aberdeen Group plc owned about 0.08% of Constellation Brands worth $22,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rakuten Securities Inc. raised its position in Constellation Brands by 805.0% during the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Constellation Brands during the 1st quarter valued at $38,000. Flaharty Asset Management LLC bought a new stake in Constellation Brands during the 1st quarter valued at $39,000. Hoey Investments Inc. bought a new stake in Constellation Brands during the 2nd quarter valued at $40,000. Finally, WPG Advisers LLC bought a new stake in Constellation Brands during the 1st quarter valued at $43,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 0.0%

Shares of STZ stock opened at $141.39 on Tuesday. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $247.63. The stock's fifty day moving average price is $150.20 and its 200 day moving average price is $167.66. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The firm had revenue of $2.32 billion for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. On average, research analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands's payout ratio is presently 59.56%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STZ. Needham & Company LLC reaffirmed a "buy" rating and set a $180.00 target price on shares of Constellation Brands in a research report on Wednesday, October 8th. Zacks Research downgraded Constellation Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. Jefferies Financial Group cut their price target on Constellation Brands from $205.00 to $179.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. BMO Capital Markets cut their price target on Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. Finally, Barclays cut their price target on Constellation Brands from $150.00 to $147.00 and set an "equal weight" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $186.44.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.45% of the company's stock.

Constellation Brands Profile

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.

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