Coerente Capital Management Grows Position in Constellation Brands Inc $STZ

Key Points

• Coerente Capital Management has increased its investment in Constellation Brands Inc by 3.4%, now holding 111,011 shares valued at approximately $18.06 million.
• Brokerage firms are adjusting their ratings and target prices for Constellation Brands, with BNP Paribas Exane downgrading the stock to "underperform" and setting a target price of $123.00.
• Constellation Brands recently announced a quarterly dividend of $1.02 per share, yielding 2.8%, which will be paid to shareholders on November 13th.

Coerente Capital Management grew its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 111,011 shares of the company's stock after purchasing an additional 3,611 shares during the period. Constellation Brands comprises approximately 3.3% of Coerente Capital Management's investment portfolio, making the stock its 14th largest holding. Coerente Capital Management owned 0.06% of Constellation Brands worth $18,059,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands in the 1st quarter worth approximately $32,000. Rakuten Securities Inc. lifted its position in shares of 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 buying an additional 161 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Constellation Brands during the 1st quarter valued at approximately $38,000. Flaharty Asset Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at approximately $39,000. Finally, Hoey Investments Inc. purchased a new position in shares of Constellation Brands during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. BNP Paribas Exane lowered Constellation Brands from a "neutral" rating to an "underperform" rating and set a $123.00 target price on the stock. in a research report on Wednesday, September 3rd. Cowen reiterated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. 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. BMO Capital Markets decreased their target price on Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a research report on Thursday, September 4th. Finally, Jefferies Financial Group decreased their target price on Constellation Brands from $205.00 to $179.00 and set a "buy" rating on the stock in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of "Hold" and an average price target of $186.44.

Constellation Brands Stock Up 0.3%

NYSE STZ opened at $143.20 on Friday. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $247.63. The company has a quick ratio of 0.68, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The business's fifty day simple moving average is $151.28 and its 200-day simple moving average is $168.44. The firm has a market cap of $25.24 billion, a PE ratio of 20.91, a P/E/G ratio of 0.43 and a beta of 0.66.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Monday, October 6th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.37 by $0.26. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The business had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.68 billion. During the same quarter in the previous year, the firm earned $4.32 EPS. The company's quarterly revenue was down 15.0% compared to the same quarter last year. As a group, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced 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 2.8%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands's dividend payout ratio (DPR) is 59.56%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is currently owned by corporate insiders.

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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