Birch Hill Investment Advisors LLC trimmed its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 34.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,353 shares of the company's stock after selling 4,852 shares during the period. Birch Hill Investment Advisors LLC's holdings in Constellation Brands were worth $1,522,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Arlington Partners LLC bought a new position in shares of Constellation Brands in the second quarter valued at $2,333,000. Assenagon Asset Management S.A. lifted its stake in shares of Constellation Brands by 969.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company's stock valued at $13,609,000 after buying an additional 75,834 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Constellation Brands by 10.7% in the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company's stock valued at $7,049,000 after buying an additional 4,204 shares in the last quarter. Glenview Trust co lifted its stake in shares of Constellation Brands by 6.8% in the first quarter. Glenview Trust co now owns 69,427 shares of the company's stock valued at $12,741,000 after buying an additional 4,421 shares in the last quarter. Finally, Apollon Wealth Management LLC raised its holdings in shares of Constellation Brands by 230.2% in the second quarter. Apollon Wealth Management LLC now owns 6,471 shares of the company's stock valued at $1,053,000 after purchasing an additional 4,511 shares during the last quarter. 77.34% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Morgan Stanley dropped their price target on shares of Constellation Brands from $176.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, October 7th. Roth Capital reissued a "buy" rating and set a $209.00 price target (down from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. Sanford C. Bernstein dropped their price target on shares of Constellation Brands from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $170.00 to $155.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. Finally, TD Cowen dropped their price target on shares of Constellation Brands from $180.00 to $152.00 and set a "hold" rating on the stock in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of "Hold" and an average price target of $186.44.
Read Our Latest Analysis on Constellation Brands
Constellation Brands Stock Performance
NYSE STZ opened at $141.52 on Wednesday. Constellation Brands Inc has a 52-week low of $131.20 and a 52-week high of $245.31. The company has a 50-day simple moving average of $146.60 and a 200 day simple moving average of $166.06. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The company has a market capitalization of $24.77 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.32 billion during the quarter. On average, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.
Constellation Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands's dividend payout ratio (DPR) is presently 59.56%.
About Constellation Brands
(
Free Report)
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.
Further Reading
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