Narwhal Capital Management Sells 4,212 Shares of Constellation Brands Inc $STZ

Key Points

• Narwhal Capital Management reduced its stake in Constellation Brands Inc by 13.6%, selling 4,212 shares in the second quarter, leaving them with 26,832 shares valued at approximately $4.36 million.
• Several research firms have downgraded Constellation Brands, with BNP Paribas changing their rating from "hold" to "strong sell," while Barclays and Deutsche Bank also reduced their target prices significantly.
• Constellation Brands announced a quarterly dividend of $1.02 per share, to be paid on November 13th, representing a yield of 2.9% and a payout ratio of 59.56%.

Narwhal Capital Management lessened its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 13.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,832 shares of the company's stock after selling 4,212 shares during the quarter. Narwhal Capital Management's holdings in Constellation Brands were worth $4,365,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. Laurel Wealth Advisors LLC bought a new stake in Constellation Brands during the 1st quarter valued at $32,000. Rakuten Securities Inc. grew its stake in shares of Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Constellation Brands in the 1st quarter worth $38,000. Flaharty Asset Management LLC bought a new stake in shares of Constellation Brands in the 1st quarter worth $39,000. Finally, Hoey Investments Inc. bought a new stake in shares of Constellation Brands in the 2nd quarter worth $40,000. Institutional investors own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STZ. BNP Paribas lowered shares of Constellation Brands from a "hold" rating to a "strong sell" rating in a research note on Wednesday, September 3rd. Barclays reiterated an "equal weight" rating and issued a $150.00 target price (down previously from $202.00) on shares of Constellation Brands in a research note on Friday, September 12th. UBS Group set a $160.00 target price on shares of Constellation Brands in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 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, Jefferies Financial Group reduced their target price 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. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $186.56.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $142.79 on Thursday. The company's 50-day moving average is $151.76 and its 200 day moving average is $168.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.68 and a current ratio of 1.08. The company has a market capitalization of $25.17 billion, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 0.42 and a beta of 1.75. Constellation Brands Inc has a fifty-two week low of $131.20 and a fifty-two week high of $247.63.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Monday, October 6th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.37 by $0.26. The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.68 billion. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The company's revenue was down 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.32 earnings per share. On average, equities research analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed 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 is 59.56%.

Constellation Brands Company 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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