Principal Financial Group Inc. reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 227,601 shares of the company’s stock after selling 12,232 shares during the period. Principal Financial Group Inc.’s holdings in Constellation Brands were worth $43,132,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Sigma Planning Corp increased its position in Constellation Brands by 1.0% in the 3rd quarter. Sigma Planning Corp now owns 6,235 shares of the company’s stock worth $1,182,000 after purchasing an additional 59 shares during the last quarter. Resources Investment Advisors LLC. increased its holdings in shares of Constellation Brands by 2.0% during the 3rd quarter. Resources Investment Advisors LLC. now owns 3,020 shares of the company’s stock valued at $572,000 after acquiring an additional 60 shares during the last quarter. Tompkins Financial Corp increased its holdings in shares of Constellation Brands by 9.4% during the 3rd quarter. Tompkins Financial Corp now owns 697 shares of the company’s stock valued at $132,000 after acquiring an additional 60 shares during the last quarter. Manchester Financial Inc. increased its holdings in shares of Constellation Brands by 55.1% during the 3rd quarter. Manchester Financial Inc. now owns 197 shares of the company’s stock valued at $37,000 after acquiring an additional 70 shares during the last quarter. Finally, Cordasco Financial Network increased its holdings in shares of Constellation Brands by 11.8% during the 3rd quarter. Cordasco Financial Network now owns 703 shares of the company’s stock valued at $133,000 after acquiring an additional 74 shares during the last quarter. 71.77% of the stock is currently owned by institutional investors.
Shares of STZ stock opened at $206.10 on Tuesday. The stock has a 50 day moving average of $183.42 and a two-hundred day moving average of $179.31. The company has a current ratio of 1.85, a quick ratio of 1.16 and a debt-to-equity ratio of 0.92. Constellation Brands, Inc. has a 12 month low of $104.28 and a 12 month high of $208.55. The company has a market capitalization of $39.94 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.26 and a beta of 0.94.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, October 7th. The company reported $2.76 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the company earned $2.91 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 9.13 earnings per share for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $3.00 annualized dividend and a dividend yield of 1.46%. Constellation Brands’s dividend payout ratio (DPR) is presently 10.20%.
A number of brokerages have recently commented on STZ. Atlantic Securities lowered Constellation Brands from an “overweight” rating to a “neutral” rating and set a $196.00 price objective on the stock. in a report on Wednesday, October 14th. TheStreet raised Constellation Brands from a “c” rating to a “b” rating in a report on Thursday, October 1st. Morgan Stanley raised Constellation Brands from an “equal weight” rating to an “overweight” rating and set a $203.00 price objective on the stock in a report on Tuesday, November 3rd. Deutsche Bank Aktiengesellschaft raised their target price on Constellation Brands from $196.00 to $208.00 and gave the company a “hold” rating in a report on Tuesday, November 10th. Finally, Citigroup raised their target price on Constellation Brands from $200.00 to $209.00 and gave the company a “neutral” rating in a report on Tuesday, October 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $199.00.
Constellation Brands Company 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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