Carnegie Investment Counsel Has $551,000 Stake in Constellation Brands Inc $STZ

Carnegie Investment Counsel decreased its position in Constellation Brands Inc (NYSE:STZ) by 4.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,388 shares of the company’s stock after selling 162 shares during the period. Carnegie Investment Counsel’s holdings in Constellation Brands were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Brighton Jones LLC boosted its stake in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares during the period. Bessemer Group Inc. boosted its stake in shares of Constellation Brands by 3.0% during the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company’s stock valued at $412,000 after buying an additional 65 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Constellation Brands by 9.7% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 890 shares of the company’s stock valued at $163,000 after buying an additional 79 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Constellation Brands by 15.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,246 shares of the company’s stock valued at $5,190,000 after buying an additional 3,784 shares during the period. Finally, BSW Wealth Partners boosted its stake in shares of Constellation Brands by 16.3% during the 1st quarter. BSW Wealth Partners now owns 1,818 shares of the company’s stock valued at $334,000 after buying an additional 255 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on STZ shares. Morgan Stanley decreased their target price 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. BMO Capital Markets cut their price target on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Bank of America cut their price target on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a report on Wednesday, September 3rd. BNP Paribas downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Finally, Zacks Research downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Tuesday, September 9th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $186.44.

Constellation Brands Stock Performance

NYSE:STZ opened at $139.65 on Monday. The firm’s 50-day moving average is $144.83 and its 200-day moving average is $165.28. Constellation Brands Inc has a 52-week low of $131.20 and a 52-week high of $245.31. 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 company has a market cap of $24.44 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ) last posted its 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%. Equities research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

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

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.