Constellation Brands Inc $STZ Shares Purchased by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc increased its holdings in Constellation Brands by 4.0% during the second quarter, now owning 65,408 shares valued at approximately $10.64 million.
• Constellation Brands announced a quarterly dividend of $1.02 per share, with an ex-dividend date of October 30th, representing an annualized yield of 2.9%.
• Shares of Constellation Brands opened at $140.27 and have fluctuated between a 52-week low of $131.20 and a high of $245.31.

Cullen Frost Bankers Inc. boosted its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,408 shares of the company's stock after purchasing an additional 2,534 shares during the quarter. Cullen Frost Bankers Inc.'s holdings in Constellation Brands were worth $10,641,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC boosted its holdings in Constellation Brands by 5.8% in the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock worth $207,000 after purchasing an additional 62 shares during the period. World Investment Advisors lifted its stake in Constellation Brands by 1.7% in the first quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after buying an additional 62 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Constellation Brands by 3.8% in the second quarter. V Square Quantitative Management LLC now owns 1,682 shares of the company's stock valued at $274,000 after buying an additional 62 shares during the last quarter. Bessemer Group Inc. lifted its stake in Constellation Brands by 3.0% in the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after buying an additional 65 shares during the last quarter. Finally, Oak Asset Management LLC lifted its stake in Constellation Brands by 0.4% in the second quarter. Oak Asset Management LLC now owns 18,281 shares of the company's stock valued at $2,974,000 after buying an additional 70 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $140.27 on Thursday. Constellation Brands Inc has a fifty-two week low of $131.20 and a fifty-two week high of $245.31. The firm's 50-day simple moving average is $146.00 and its 200 day simple moving average is $165.88. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The stock has a market cap of $24.55 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share 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 for the quarter. Equities analysts expect that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on STZ shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Constellation Brands in a research note on Wednesday, October 8th. Zacks Research cut Constellation Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. UBS Group set a $160.00 target price on Constellation Brands in a research note on Tuesday, October 7th. Cowen reiterated a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. Finally, BNP Paribas Exane cut shares of Constellation Brands from a "neutral" rating to an "underperform" rating and set a $123.00 price objective on the stock. in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $186.44.

Constellation Brands Company 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.

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands Inc (NYSE:STZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.