OLD National Bancorp IN lessened its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 49.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,946 shares of the company's stock after selling 1,902 shares during the period. OLD National Bancorp IN's holdings in Constellation Brands were worth $317,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 18.6% during the 1st 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 raised its stake in shares of Constellation Brands by 127.9% during the 1st 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. Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 7.8% during 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. Dimensional Fund Advisors LP raised its stake in shares of Constellation Brands by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company's stock valued at $310,851,000 after purchasing an additional 76,186 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Constellation Brands by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,534,357 shares of the company's stock valued at $281,585,000 after purchasing an additional 17,832 shares during the period. 77.34% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
STZ has been the topic of a number of analyst reports. Bank of America decreased their price objective on Constellation Brands from $150.00 to $142.00 and set an "underperform" rating on the stock in a research note on Wednesday, September 3rd. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. BMO Capital Markets decreased their target price on Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Cowen restated a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Constellation Brands in a research note on Saturday, September 27th. One equities research 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. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of "Hold" and an average price target of $187.72.
Check Out Our Latest Stock Report on STZ
Insider Activity at Constellation Brands
In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 12.45% of the company's stock.
Constellation Brands Price Performance
Shares of Constellation Brands stock opened at $140.04 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $24.69 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The business's 50-day moving average price is $152.33 and its 200-day moving average price is $168.88. Constellation Brands Inc has a 12 month low of $131.20 and a 12 month high of $247.63.
Constellation Brands (NYSE:STZ - Get Free Report) last announced 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 firm had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.68 billion. Constellation Brands had a return on equity of 30.03% and a net margin of 11.88%.The company's revenue was down 15.0% on a year-over-year basis. During the same period in the prior year, the company earned $4.32 EPS. Sell-side analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.
Constellation Brands Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands's dividend payout ratio is -170.71%.
About Constellation Brands
(
Free Report)
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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