Allianz Asset Management GmbH Decreases Holdings in Constellation Brands Inc $STZ

Allianz Asset Management GmbH cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 94.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,137 shares of the company’s stock after selling 129,883 shares during the period. Allianz Asset Management GmbH’s holdings in Constellation Brands were worth $1,324,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in Constellation Brands in the 1st quarter worth $38,000. Flaharty Asset Management LLC bought a new position in Constellation Brands in the 1st quarter worth $39,000. Hoey Investments Inc. bought a new position in Constellation Brands in the 2nd quarter worth $40,000. WPG Advisers LLC bought a new position in Constellation Brands in the 1st quarter worth $43,000. Finally, Concord Wealth Partners boosted its holdings in Constellation Brands by 105.0% in the 2nd quarter. Concord Wealth Partners now owns 410 shares of the company’s stock worth $67,000 after buying an additional 210 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Down 0.0%

Shares of NYSE:STZ opened at $139.65 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. Constellation Brands Inc has a 12 month low of $131.20 and a 12 month high of $245.31. The company has a 50-day moving average price of $144.83 and a 200 day moving average price of $165.41. The company has a market cap of $24.44 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The firm had revenue of $2.32 billion during the quarter. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands’s dividend payout ratio is 59.56%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. BMO Capital Markets dropped their target price on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Morgan Stanley dropped their target price on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. UBS Group set a $160.00 target price on shares of Constellation Brands in a report on Tuesday, October 7th. Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a report on Monday, July 7th. Finally, Barclays dropped their price objective on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Constellation Brands currently has an average rating of “Hold” and a consensus target price of $186.44.

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.