Allspring Global Investments Holdings LLC Raises Stock Position in Constellation Brands Inc (NYSE:STZ)

Allspring Global Investments Holdings LLC lifted its stake in shares of Constellation Brands Inc (NYSE:STZ) by 7.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,206 shares of the company’s stock after acquiring an additional 1,185 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Constellation Brands were worth $3,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. boosted its stake in shares of Constellation Brands by 36.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Constellation Brands during the fourth quarter valued at approximately $26,000. Golden State Wealth Management LLC boosted its stake in shares of Constellation Brands by 137.0% during the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company’s stock valued at $405,000 after purchasing an additional 1,274 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Constellation Brands by 28.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company’s stock valued at $1,351,000 after purchasing an additional 1,651 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of Constellation Brands by 8.1% during the first quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company’s stock valued at $458,000 after purchasing an additional 187 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

STZ has been the topic of a number of recent research reports. Barclays set a $202.00 price objective on shares of Constellation Brands and gave the company an “overweight” rating in a research note on Thursday, June 26th. Citigroup raised their target price on shares of Constellation Brands from $170.00 to $174.00 and gave the company a “neutral” rating in a research note on Thursday. Wall Street Zen upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Tuesday, May 20th. Needham & Company LLC raised their target price on shares of Constellation Brands from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Morgan Stanley lowered their target price on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $213.35.

Constellation Brands Trading Down 0.7%

Shares of Constellation Brands stock opened at $172.61 on Monday. The firm has a market capitalization of $30.73 billion, a price-to-earnings ratio of -72.22, a PEG ratio of 9.57 and a beta of 0.67. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $264.45. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a 50 day moving average of $177.11 and a 200 day moving average of $183.02.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the company earned $3.57 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, July 30th. Constellation Brands’s dividend payout ratio (DPR) is -170.71%.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.45% of the stock is owned by company insiders.

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.