CORDA Investment Management LLC. Has $20.87 Million Stake in Constellation Brands Inc $STZ

Key Points

• CORDA Investment Management LLC increased its stake in Constellation Brands Inc by 3.2% in Q2, now holding 128,301 shares valued at approximately $20.87 million.
• Analysts have recently downgraded their price targets for Constellation Brands, with Barclays and Bank of America reducing theirs to $147.00 and $142.00, respectively, amidst a mixed consensus rating of "Hold."
• Constellation Brands has announced a quarterly dividend of $1.02 per share, which reflects an annual yield of 2.9%, with the ex-dividend date set for October 30th.

CORDA Investment Management LLC. raised its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 3.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,301 shares of the company's stock after acquiring an additional 3,954 shares during the quarter. CORDA Investment Management LLC. owned approximately 0.07% of Constellation Brands worth $20,872,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in STZ. Zions Bancorporation National Association UT acquired a new stake in Constellation Brands in the first quarter valued at $38,000. Flaharty Asset Management LLC acquired a new stake in Constellation Brands in the first quarter valued at $39,000. Hoey Investments Inc. acquired a new stake in Constellation Brands in the second quarter valued at $40,000. WPG Advisers LLC acquired a new stake in Constellation Brands in the first quarter valued at $43,000. Finally, Pinnacle Bancorp Inc. lifted its stake in Constellation Brands by 45.5% in the first quarter. Pinnacle Bancorp Inc. now owns 278 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays cut their price target on shares of 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. Zacks Research cut shares of Constellation Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Sanford C. Bernstein cut their target price on shares of Constellation Brands from $225.00 to $195.00 and set an "outperform" rating for the company in a research note on Thursday, September 4th. Bank of America cut their target price on shares of Constellation Brands from $150.00 to $142.00 and set an "underperform" rating for the company in a research note on Wednesday, September 3rd. Finally, Cowen restated a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. One investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $186.44.

Constellation Brands Price Performance

NYSE:STZ opened at $140.41 on Monday. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $245.31. The firm has a market cap of $24.58 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 0.42 and a beta of 0.66. The firm's 50-day simple moving average is $147.73 and its 200 day simple moving average is $166.46. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 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 for the quarter. As a group, sell-side analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

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

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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