Rhumbline Advisers Decreases Holdings in Constellation Brands Inc $STZ

Rhumbline Advisers trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 1.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 298,323 shares of the company’s stock after selling 4,635 shares during the quarter. Rhumbline Advisers’ holdings in Constellation Brands were worth $48,531,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Arlington Partners LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $2,333,000. AlphaQuest LLC grew its position in Constellation Brands by 350.7% during the 2nd quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock worth $842,000 after acquiring an additional 4,029 shares during the last quarter. 49 Wealth Management LLC purchased a new position in Constellation Brands in the 2nd quarter worth approximately $373,000. Assenagon Asset Management S.A. lifted its position in Constellation Brands by 969.5% in 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 last quarter. Finally, Heritage Investors Management Corp boosted its stake in shares of Constellation Brands by 6.2% during the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock valued at $23,886,000 after purchasing an additional 8,613 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $132.31 on Tuesday. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $245.31. The stock has a market capitalization of $23.16 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.39 and a beta of 1.75. The company’s 50-day moving average is $134.93 and its 200 day moving average is $156.88. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The business had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. On average, sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. Constellation Brands’s payout ratio is currently 59.56%.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Barclays decreased their target price on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. TD Cowen dropped their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a report on Thursday, September 4th. Wells Fargo & Company cut their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, BMO Capital Markets lowered their price target on Constellation Brands from $215.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $181.88.

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.