Constellation Brands Inc $STZ Shares Acquired by RNC Capital Management LLC

RNC Capital Management LLC lifted its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,561 shares of the company’s stock after acquiring an additional 77 shares during the quarter. RNC Capital Management LLC’s holdings in Constellation Brands were worth $2,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Forum Financial Management LP lifted its holdings in shares of Constellation Brands by 15.0% during the 2nd quarter. Forum Financial Management LP now owns 1,777 shares of the company’s stock valued at $289,000 after acquiring an additional 232 shares in the last quarter. Brookstone Capital Management lifted its holdings in Constellation Brands by 1.2% in the 2nd quarter. Brookstone Capital Management now owns 48,003 shares of the company’s stock worth $7,809,000 after buying an additional 589 shares in the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Constellation Brands by 4.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 65,408 shares of the company’s stock worth $10,641,000 after buying an additional 2,534 shares in the last quarter. IMG Wealth Management Inc. acquired a new position in Constellation Brands in the 2nd quarter worth $137,000. Finally, Aurora Investment Counsel lifted its holdings in Constellation Brands by 1.5% in the 2nd quarter. Aurora Investment Counsel now owns 18,544 shares of the company’s stock worth $3,017,000 after buying an additional 266 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $140.27 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a fifty-two week low of $131.20 and a fifty-two week high of $245.31. The firm has a 50-day simple moving average of $146.00 and a 200 day simple moving average of $165.88. The company has a market cap of $24.55 billion, a PE ratio of 20.48, a P/E/G ratio of 0.42 and a beta of 0.66.

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

Constellation Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on STZ shares. UBS Group set a $160.00 price objective on shares of Constellation Brands in a report on Tuesday, October 7th. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Bank of America dropped their target price on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a research report on Wednesday, September 3rd. Jefferies Financial Group dropped their target price on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. Finally, Barclays dropped their target price on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $186.44.

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.