IFP Advisors Inc Has $67,000 Stake in Constellation Brands Inc $STZ

Key Points

• IFP Advisors Inc significantly reduced its stake in Constellation Brands Inc by 92.9% in Q2, ending the quarter with 409 shares worth $67,000.
• Constellation Brands announced a quarterly dividend of $1.02, representing a yield of 2.9%, with the payout date set for November 13th.
• Several analysts have adjusted their price targets for Constellation Brands, with the average target now set at $186.44 and a consensus rating of "Hold."

IFP Advisors Inc reduced its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 92.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 409 shares of the company's stock after selling 5,352 shares during the quarter. IFP Advisors Inc's holdings in Constellation Brands were worth $67,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of STZ. Zions Bancorporation National Association UT bought a new position in Constellation Brands in the first quarter valued at approximately $38,000. Flaharty Asset Management LLC acquired a new stake in shares of Constellation Brands during the first quarter worth $39,000. WPG Advisers LLC bought a new stake in Constellation Brands in the 1st quarter valued at $43,000. Hoey Investments Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at $40,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Constellation Brands by 45.5% in the 1st quarter. Pinnacle Bancorp Inc. now owns 278 shares of the company's stock worth $51,000 after purchasing an additional 87 shares during the period. Institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Up 0.5%

Shares of Constellation Brands stock opened at $141.11 on Tuesday. The stock has a market cap of $24.70 billion, a P/E ratio of 20.60, a P/E/G ratio of 0.42 and a beta of 1.75. The company has a quick ratio of 0.54, a current ratio of 1.08 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 business's 50 day moving average is $147.17 and its 200-day moving average is $166.23.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results 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 research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STZ. Morgan Stanley cut their price target on Constellation Brands from $176.00 to $160.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 7th. UBS Group set a $160.00 target price on Constellation Brands in a research report on Tuesday, October 7th. Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Jefferies Financial Group decreased their price target on shares of Constellation Brands from $205.00 to $179.00 and set a "buy" rating for the company in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group lowered their price objective on shares of Constellation Brands from $196.00 to $168.00 and set a "buy" rating on the stock in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $186.44.

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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