Exencial Wealth Advisors LLC Reduces Stock Position in Constellation Brands Inc $STZ

Exencial Wealth Advisors LLC cut its stake in Constellation Brands Inc (NYSE:STZ) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,698 shares of the company’s stock after selling 115 shares during the period. Exencial Wealth Advisors LLC’s holdings in Constellation Brands were worth $276,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in STZ. Vanguard Group Inc. increased its holdings in Constellation Brands by 18.6% in the first 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 in the last quarter. Wellington Management Group LLP increased its holdings in Constellation Brands by 127.9% in the first 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 in the last quarter. Nuveen LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth approximately $63,377,000. Nordea Investment Management AB increased its stake in shares of Constellation Brands by 47.6% during the 2nd quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock worth $98,538,000 after purchasing an additional 195,784 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its stake 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 worth $38,132,000 after purchasing an additional 195,397 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. Morgan Stanley dropped their price objective on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and set a $180.00 price objective on shares of Constellation Brands in a research note on Wednesday, October 8th. Finally, Sanford C. Bernstein dropped their price objective on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Stock Down 0.0%

Shares of NYSE STZ opened at $139.65 on Friday. Constellation Brands Inc has a 1 year low of $131.20 and a 1 year high of $245.31. The firm’s 50 day moving average price is $144.83 and its 200 day moving average price is $165.44. The firm has a market cap of $24.44 billion, a P/E ratio of 20.39, a price-to-earnings-growth 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.

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

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a dividend of $1.02 per share. 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 (DPR) is 59.56%.

Constellation Brands Company 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.