M&T Bank Corp lessened its position in Constellation Brands, Inc. (NYSE:STZ) by 8.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 21,630 shares of the company’s stock after selling 2,094 shares during the period. M&T Bank Corp’s holdings in Constellation Brands were worth $4,101,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Rockbridge Investment Management LCC acquired a new stake in Constellation Brands in the second quarter valued at approximately $25,000. CX Institutional boosted its position in shares of Constellation Brands by 183.3% during the third quarter. CX Institutional now owns 170 shares of the company’s stock valued at $32,000 after buying an additional 110 shares during the last quarter. Manchester Financial Inc. boosted its position in shares of Constellation Brands by 55.1% during the third quarter. Manchester Financial Inc. now owns 197 shares of the company’s stock valued at $37,000 after buying an additional 70 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Constellation Brands during the third quarter valued at approximately $46,000. Finally, Beese Fulmer Investment Management Inc. purchased a new position in shares of Constellation Brands during the second quarter valued at approximately $43,000. 71.77% of the stock is owned by hedge funds and other institutional investors.
NYSE:STZ opened at $206.10 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.16 and a current ratio of 1.85. Constellation Brands, Inc. has a 52-week low of $104.28 and a 52-week high of $208.55. The firm has a market cap of $39.94 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 3.26 and a beta of 0.94. The business’s fifty day moving average is $183.42 and its 200 day moving average is $179.31.
Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, October 7th. The company reported $2.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. Constellation Brands had a return on equity of 15.08% and a net margin of 12.35%. The company had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.18 billion. During the same period in the previous year, the company posted $2.91 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 9.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, November 5th. Constellation Brands’s payout ratio is 10.20%.
Several research analysts recently issued reports on STZ shares. Morgan Stanley raised Constellation Brands from an “equal weight” rating to an “overweight” rating and set a $203.00 target price on the stock in a research report on Tuesday, November 3rd. Barclays reiterated a “buy” rating on shares of Constellation Brands in a report on Sunday, October 4th. Atlantic Securities lowered Constellation Brands from an “overweight” rating to a “neutral” rating and set a $196.00 price target on the stock. in a report on Wednesday, October 14th. Citigroup lifted their price target on Constellation Brands from $200.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday, October 13th. Finally, TheStreet upgraded Constellation Brands from a “c” rating to a “b” rating in a report on Thursday, October 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $199.00.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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