Ethic Inc. Sells 2,670 Shares of Constellation Brands Inc $STZ

Key Points

• Ethic Inc. decreased its stake in Constellation Brands by 7.5%, selling 2,670 shares during the second quarter, leaving it with 33,129 shares valued at approximately $5.3 million.
• Multiple institutional investors, including Vanguard and Wellington Management, have increased their holdings in Constellation Brands, which now has 77.34% of its stock owned by institutional investors.
• Constellation Brands declared a quarterly dividend of $1.02 per share, yielding 2.9%, and the dividend payout ratio stands at 59.56% as of the recent report.

Ethic Inc. lowered its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 7.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,129 shares of the company's stock after selling 2,670 shares during the quarter. Ethic Inc.'s holdings in Constellation Brands were worth $5,345,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of STZ. Vanguard Group Inc. grew its holdings 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 purchasing an additional 2,882,817 shares during the period. Wellington Management Group LLP grew its holdings 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 purchasing an additional 2,514,517 shares during the period. Nuveen LLC acquired a new position in Constellation Brands during the first quarter valued at approximately $63,377,000. Nordea Investment Management AB grew its holdings in Constellation Brands by 47.6% during the second quarter. Nordea Investment Management AB now owns 606,946 shares of the company's stock valued at $98,538,000 after purchasing an additional 195,784 shares during the period. Finally, DAVENPORT & Co LLC grew its holdings in Constellation Brands by 1,594.0% during the first 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. Institutional investors and hedge funds own 77.34% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a "neutral" rating for the company in a report on Tuesday, September 23rd. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $173.00 to $153.00 and set a "neutral" rating for the company in a research note on Wednesday, October 8th. Weiss Ratings reissued a "sell (d)" rating on shares of Constellation Brands in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $182.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, September 3rd. Finally, Morgan Stanley lowered their target price on Constellation Brands from $176.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 7th. One research 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $186.44.

Constellation Brands Trading Down 0.3%

NYSE STZ opened at $139.75 on Friday. The company has a market cap of $24.46 billion, a PE ratio of 20.40, a PEG ratio of 0.42 and a beta of 1.75. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a 12 month low of $131.20 and a 12 month high of $245.31. The stock has a 50 day moving average of $145.40 and a 200-day moving average of $165.66.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The company had revenue of $2.32 billion during the quarter. On average, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal 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 issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands's dividend payout ratio (DPR) is currently 59.56%.

About Constellation Brands

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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