Allworth Financial LP Buys 1,253 Shares of Constellation Brands Inc $STZ

Allworth Financial LP grew its stake in shares of Constellation Brands Inc (NYSE:STZ) by 17.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,558 shares of the company’s stock after acquiring an additional 1,253 shares during the period. Allworth Financial LP’s holdings in Constellation Brands were worth $1,392,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Zions Bancorporation National Association UT bought a new position in Constellation Brands during the first quarter valued at $38,000. Flaharty Asset Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at $39,000. Hoey Investments Inc. bought a new position in shares of Constellation Brands during the 2nd quarter worth $40,000. WPG Advisers LLC bought a new position in shares of Constellation Brands during the 1st quarter worth $43,000. Finally, Curio Wealth LLC increased its holdings in Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock worth $49,000 after acquiring an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.5%

Shares of NYSE STZ opened at $129.72 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. The business has a 50-day moving average of $136.62 and a 200-day moving average of $160.06. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $245.31.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) 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. Sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STZ. Deutsche Bank Aktiengesellschaft cut their target price on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. The Goldman Sachs Group dropped their price target on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Morgan Stanley lowered their target price on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Finally, Barclays cut their price target on 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 issued a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, Constellation Brands presently 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.