Ramirez Asset Management Inc. Decreases Holdings in Constellation Brands Inc $STZ

Ramirez Asset Management Inc. cut its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 16.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 500 shares of the company’s stock after selling 100 shares during the quarter. Ramirez Asset Management Inc.’s holdings in Constellation Brands were worth $81,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STZ. Vanguard Group Inc. raised its stake in shares of Constellation Brands by 18.6% during the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after acquiring an additional 2,514,517 shares in the last quarter. Nuveen LLC purchased a new position in shares of Constellation Brands during the first quarter worth approximately $63,377,000. DAVENPORT & Co LLC raised its stake in shares of Constellation Brands by 1,594.0% during the first quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company’s stock worth $38,132,000 after acquiring an additional 195,397 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock worth $352,748,000 after acquiring an additional 139,158 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

NYSE:STZ opened at $141.42 on Friday. The stock has a market cap of $24.93 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 0.43 and a beta of 0.66. The firm’s fifty day simple moving average is $150.78 and its 200 day simple moving average is $168.18. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $247.63. The company has a quick ratio of 0.68, a current ratio of 1.08 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The business had revenue of $2.32 billion for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. As a group, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a $1.02 dividend. The ex-dividend date is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands’s payout ratio is 59.56%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on STZ shares. Bank of America decreased their price target on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 3rd. BNP Paribas cut shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Cowen restated a “hold” rating on shares of Constellation Brands in a report on Monday, July 7th. Morgan Stanley cut their target price on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Citigroup cut their target price on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus price target of $186.44.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.45% of the stock is currently owned by company insiders.

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.