United Capital Financial Advisers LLC decreased its stake in Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 12.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,442 shares of the company’s stock after selling 212 shares during the period. United Capital Financial Advisers LLC’s holdings in Constellation Brands were worth $331,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in STZ. Prudential PLC bought a new stake in Constellation Brands in the first quarter worth about $705,000. Cetera Investment Advisers raised its position in Constellation Brands by 1.0% in the first quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock worth $3,921,000 after acquiring an additional 163 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Constellation Brands by 17.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock valued at $725,000 after purchasing an additional 471 shares during the period. Vanguard Group Inc. raised its position in shares of Constellation Brands by 2.6% in the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares during the period. Finally, Ergoteles LLC bought a new stake in shares of Constellation Brands in the first quarter valued at approximately $257,000. Institutional investors own 84.87% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on STZ. JPMorgan Chase & Co. lowered their price target on shares of Constellation Brands from $267.00 to $250.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. StockNews.com lowered shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. Morgan Stanley lowered their price target on shares of Constellation Brands from $298.00 to $277.00 and set an “overweight” rating on the stock in a research report on Friday, January 6th. Wells Fargo & Company boosted their price target on shares of Constellation Brands from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Finally, UBS Group decreased their target price on shares of Constellation Brands from $281.00 to $267.00 and set a “buy” rating on the stock in a report on Friday, January 6th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.76.
Constellation Brands Price Performance
Constellation Brands (NYSE:STZ – Get Rating) last released its quarterly earnings results on Thursday, January 5th. The company reported $2.83 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.05). Constellation Brands had a return on equity of 19.69% and a net margin of 0.98%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the firm earned $3.12 EPS. Constellation Brands’s quarterly revenue was up 9.2% on a year-over-year basis. On average, analysts predict that Constellation Brands, Inc. will post 10.64 EPS for the current fiscal year.
Constellation Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were paid a $0.80 dividend. The ex-dividend date was Tuesday, February 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.46%. Constellation Brands’s dividend payout ratio (DPR) is 914.31%.
Constellation Brands Company Profile
Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.
Read More
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