TD Asset Management Inc Reduces Holdings in Constellation Brands Inc $STZ

Key Points

• TD Asset Management Inc has reduced its holdings in Constellation Brands Inc by 32.5%, now owning 89,527 shares valued at $14.56 million.
• Other institutional investors, including Vanguard Group and Wellington Management Group, significantly increased their positions in Constellation Brands during the 1st quarter.
• Analysts provided mixed ratings on Constellation Brands with one Strong Buy, thirteen Buy, nine Hold, and five Sell ratings, alongside a consensus price target of $186.44.

TD Asset Management Inc lessened its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 32.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,527 shares of the company's stock after selling 43,183 shares during the period. TD Asset Management Inc owned 0.05% of Constellation Brands worth $14,564,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STZ. Vanguard Group Inc. lifted its position 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 buying an additional 2,882,817 shares during the last quarter. Wellington Management Group LLP lifted its position 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 buying an additional 2,514,517 shares during the last quarter. Nuveen LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at $63,377,000. DAVENPORT & Co LLC lifted its position in shares of Constellation Brands by 1,594.0% during the 1st quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company's stock valued at $38,132,000 after buying an additional 195,397 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 139,158 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Cowen reissued a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Needham & Company LLC reissued a "buy" rating and set a $180.00 price objective on shares of Constellation Brands in a report on Wednesday, October 8th. BMO Capital Markets dropped their price objective on Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. Morgan Stanley dropped their price objective 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. Finally, Barclays dropped their price objective on Constellation Brands from $150.00 to $147.00 and set an "equal weight" rating on the stock in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has an average rating of "Hold" and a consensus price target of $186.44.

Constellation Brands Stock Performance

Shares of STZ opened at $140.41 on Friday. The company has a market cap of $24.58 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The stock has a 50-day moving average price of $147.73 and a 200-day moving average price of $166.56. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $245.31.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The firm had revenue of $2.32 billion during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. As a group, equities analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors 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 dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands's dividend payout ratio (DPR) is currently 59.56%.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the firm's 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 of the company's stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 12.45% of the company's stock.

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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