Bank of New York Mellon Corp Sells 33,116 Shares of Constellation Brands Inc $STZ

Bank of New York Mellon Corp trimmed its stake in Constellation Brands Inc (NYSE:STZ) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 905,639 shares of the company’s stock after selling 33,116 shares during the period. Bank of New York Mellon Corp owned 0.51% of Constellation Brands worth $147,329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of STZ. Gilbert & Cook Inc. increased its position in Constellation Brands by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 2,385 shares of the company’s stock worth $388,000 after buying an additional 60 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Constellation Brands by 3.8% during the 2nd quarter. V Square Quantitative Management LLC now owns 1,682 shares of the company’s stock valued at $274,000 after acquiring an additional 62 shares during the period. Oak Asset Management LLC increased its holdings in Constellation Brands by 0.4% in the 2nd quarter. Oak Asset Management LLC now owns 18,281 shares of the company’s stock worth $2,974,000 after acquiring an additional 70 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Constellation Brands by 9.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 813 shares of the company’s stock worth $149,000 after acquiring an additional 73 shares during the period. Finally, Baldwin Investment Management LLC lifted its holdings in Constellation Brands by 1.0% during the first quarter. Baldwin Investment Management LLC now owns 7,802 shares of the company’s stock valued at $1,432,000 after purchasing an additional 75 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

NYSE:STZ opened at $128.09 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $22.42 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a 12 month low of $127.00 and a 12 month high of $245.31. The business’s 50-day moving average is $139.02 and its 200 day moving average is $162.05.

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 during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. On average, equities research analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders 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 dividend yield of 3.2%. Constellation Brands’s payout ratio is 59.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on STZ shares. Zacks Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 price target on shares of Constellation Brands in a research note on Wednesday, October 8th. Weiss Ratings upgraded Constellation Brands from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Finally, BNP Paribas Exane downgraded Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 target price on the stock. in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus price target of $186.44.

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.