Coho Partners Ltd. Lowers Position in Constellation Brands Inc $STZ

Key Points

• Coho Partners Ltd. has reduced its stake in Constellation Brands Inc. by 16.0%, now holding 0.08% of the company, valued at approximately $23.7 million.
• Institutional investors, including Vanguard and Wellington Management, have increased their stakes significantly, with Vanguard raising its position by 18.6% and Wellington by 127.9%.
• Analysts have issued mixed ratings for Constellation Brands, with a current consensus rating of "Hold" and an average price target of $186.44.

Coho Partners Ltd. cut its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 16.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 145,821 shares of the company's stock after selling 27,823 shares during the period. Coho Partners Ltd. owned 0.08% of Constellation Brands worth $23,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Constellation Brands by 18.6% during the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company's stock valued at $3,379,999,000 after buying an additional 2,882,817 shares during the period. Wellington Management Group LLP lifted its position in Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company's stock valued at $822,314,000 after buying an additional 2,514,517 shares during the period. Nuveen LLC purchased a new position in Constellation Brands during the 1st quarter valued at about $63,377,000. Nordea Investment Management AB lifted its position in Constellation Brands by 47.6% during the 2nd quarter. Nordea Investment Management AB now owns 606,946 shares of the company's stock valued at $98,538,000 after acquiring an additional 195,784 shares during the period. Finally, DAVENPORT & Co LLC lifted its position in Constellation Brands by 1,594.0% during the 1st quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company's stock valued at $38,132,000 after acquiring an additional 195,397 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. BMO Capital Markets lowered their target price on shares of Constellation Brands from $215.00 to $190.00 and set an "outperform" rating for the company in a report on Thursday, September 4th. Barclays lowered their price objective on Constellation Brands from $150.00 to $147.00 and set an "equal weight" rating for the company in a research note on Thursday, October 9th. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Sanford C. Bernstein lowered their price target on Constellation Brands from $225.00 to $195.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. Finally, Bank of America lowered their price target on Constellation Brands from $150.00 to $142.00 and set an "underperform" rating for the company in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $186.44.

Constellation Brands Stock Up 0.3%

STZ stock opened at $139.31 on Friday. Constellation Brands Inc has a 1-year low of $131.20 and a 1-year high of $245.31. The business has a fifty day moving average price of $148.33 and a 200-day moving average price of $166.98. 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 stock has a market capitalization of $24.56 billion, a P/E ratio of 20.34, a P/E/G ratio of 0.42 and a beta of 0.66.

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

Constellation Brands Dividend Announcement

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

Insider Buying and Selling at Constellation Brands

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