Cornell Pochily Investment Advisors Inc. Has $478,000 Holdings in Constellation Brands Inc $STZ

Key Points

• Cornell Pochily Investment Advisors Inc. reduced its stake in Constellation Brands Inc by 42.9%, owning 2,939 shares worth $478,000 after selling 2,208 shares in the second quarter.
• Several institutional investors, including Vanguard Group and Wellington Management, significantly increased their holdings, indicating strong interest as these funds now own a combined 77.34% of the company's stock.
• Constellation Brands reported a miss on earnings per share and revenue estimates for the quarter, leading to changes in analyst ratings and target prices, with a consensus rating currently at "Hold."

Cornell Pochily Investment Advisors Inc. lessened its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 42.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,939 shares of the company's stock after selling 2,208 shares during the period. Cornell Pochily Investment Advisors Inc.'s holdings in Constellation Brands were worth $478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. Vanguard Group Inc. raised its holdings in Constellation Brands by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company's stock worth $3,379,999,000 after buying an additional 2,882,817 shares during the period. Wellington Management Group LLP raised its holdings in Constellation Brands by 127.9% during the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company's stock worth $822,314,000 after buying an additional 2,514,517 shares during the period. Nuveen LLC acquired a new position in shares of Constellation Brands in the 1st quarter valued at about $63,377,000. DAVENPORT & Co LLC increased its holdings in shares of Constellation Brands by 1,594.0% in the 1st quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company's stock valued at $38,132,000 after purchasing an additional 195,397 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Constellation Brands by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company's stock valued at $352,748,000 after purchasing an additional 139,158 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STZ shares. Jefferies Financial Group dropped their target price on Constellation Brands from $205.00 to $179.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Bank of America dropped their target price on Constellation Brands from $150.00 to $142.00 and set an "underperform" rating on the stock in a report on Wednesday, September 3rd. Morgan Stanley dropped their target price on Constellation Brands from $195.00 to $176.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. Wells Fargo & Company dropped their target price on Constellation Brands from $170.00 to $155.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Finally, Zacks Research downgraded Constellation Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $190.16.

Constellation Brands Trading Up 1.1%

Shares of NYSE STZ opened at $140.51 on Friday. The stock has a market cap of $24.77 billion, a price-to-earnings ratio of -58.79, a PEG ratio of 0.42 and a beta of 1.75. The business has a 50 day simple moving average of $154.39 and a 200 day simple moving average of $169.74. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $254.88. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.57 EPS. On average, research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal 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 given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands's dividend payout ratio is presently -170.71%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was 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 owned 9,438 shares of the company's stock, valued at $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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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