Grimes & Company Inc. Has $4.32 Million Stock Holdings in Constellation Brands Inc $STZ

Grimes & Company Inc. trimmed its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 15.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,539 shares of the company's stock after selling 4,738 shares during the quarter. Grimes & Company Inc.'s holdings in Constellation Brands were worth $4,317,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC increased its position in Constellation Brands by 6.0% in the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,993 shares of the company's stock valued at $324,000 after acquiring an additional 112 shares in the last quarter. Stock Yards Bank & Trust Co. grew its stake in shares of Constellation Brands by 1.1% during the second quarter. Stock Yards Bank & Trust Co. now owns 102,662 shares of the company's stock valued at $16,701,000 after purchasing an additional 1,110 shares during the last quarter. Whelan Financial increased its holdings in shares of Constellation Brands by 45.1% in the second quarter. Whelan Financial now owns 3,754 shares of the company's stock valued at $611,000 after purchasing an additional 1,167 shares in the last quarter. Hudson Edge Investment Partners Inc. increased its holdings in shares of Constellation Brands by 2.4% in the second quarter. Hudson Edge Investment Partners Inc. now owns 28,774 shares of the company's stock valued at $4,681,000 after purchasing an additional 663 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Constellation Brands by 2.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,033 shares of the company's stock worth $4,723,000 after purchasing an additional 787 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STZ has been the topic of a number of recent research reports. BNP Paribas lowered Constellation Brands from a "hold" rating to a "strong sell" rating in a research report on Wednesday, September 3rd. Zacks Research cut Constellation Brands from a "hold" rating to a "strong sell" rating in a report on Tuesday, September 9th. TD Cowen dropped their price objective on Constellation Brands from $180.00 to $152.00 and set a "hold" rating for the company in a report on Thursday, September 4th. Jefferies Financial Group reduced their target price on shares of Constellation Brands from $205.00 to $179.00 and set a "buy" rating on the stock in a research note on Wednesday, September 3rd. Finally, Cowen reissued a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. One equities 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $188.96.

Constellation Brands Stock Performance

Shares of STZ opened at $142.20 on Monday. The firm has a market cap of $25.07 billion, a P/E ratio of -59.50, a PEG ratio of 0.43 and a beta of 1.75. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $247.96. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The firm's 50 day moving average price is $153.72 and its two-hundred day moving average price is $169.35.

Constellation Brands Announces Dividend

The company also recently announced 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. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands's dividend payout ratio is -170.71%.

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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