Vontobel Holding Ltd. Raises Stake in Constellation Brands Inc $STZ

Vontobel Holding Ltd. boosted its position in Constellation Brands Inc (NYSE:STZ) by 33.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,648 shares of the company’s stock after purchasing an additional 1,650 shares during the period. Vontobel Holding Ltd.’s holdings in Constellation Brands were worth $1,081,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Arlington Partners LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at approximately $2,333,000. Wesbanco Bank Inc. boosted its stake in shares of Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock valued at $7,049,000 after purchasing an additional 4,204 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Constellation Brands by 969.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after purchasing an additional 75,834 shares during the period. Glenview Trust co boosted its stake in shares of Constellation Brands by 6.8% during the first quarter. Glenview Trust co now owns 69,427 shares of the company’s stock valued at $12,741,000 after purchasing an additional 4,421 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Constellation Brands by 36.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after purchasing an additional 815 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 1.1%

Shares of NYSE:STZ opened at $141.42 on Monday. The firm has a market capitalization of $24.93 billion, a P/E ratio of 20.65, a P/E/G ratio of 0.42 and a beta of 0.66. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The stock has a 50 day moving average price of $150.78 and a 200-day moving average price of $167.96. Constellation Brands Inc has a 52-week low of $131.20 and a 52-week high of $247.63.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The company 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 research analysts anticipate 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. Shareholders 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 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio is 59.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on STZ shares. Raymond James Financial raised Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. UBS Group set a $160.00 price objective on Constellation Brands in a research note on Tuesday, October 7th. Barclays dropped their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a research note on Thursday. Wells Fargo & Company dropped their price objective on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands has an average rating of “Hold” and an average price target of $186.44.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The transaction 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 Profile

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.