Arrowstreet Capital Limited Partnership Raises Stock Position in Constellation Brands Inc $STZ

Arrowstreet Capital Limited Partnership grew its stake in Constellation Brands Inc (NYSE:STZ) by 69.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,063,769 shares of the company’s stock after purchasing an additional 435,483 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.60% of Constellation Brands worth $173,054,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STZ. AlphaQuest LLC increased its stake in shares of Constellation Brands by 350.7% in the 2nd quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock worth $842,000 after acquiring an additional 4,029 shares during the last quarter. Arlington Partners LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $2,333,000. 49 Wealth Management LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at approximately $373,000. Heritage Investors Management Corp lifted its holdings in Constellation Brands by 6.2% in the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock valued at $23,886,000 after acquiring an additional 8,613 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Constellation Brands by 969.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after purchasing an additional 75,834 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

NYSE STZ opened at $137.95 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The stock has a market cap of $24.15 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $245.31. The business has a fifty day moving average of $135.25 and a 200-day moving average of $154.58.

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 for the quarter. As a group, analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

Analyst Ratings Changes

Several research firms recently issued reports on STZ. Zacks Research upgraded Constellation Brands from a “strong sell” rating to a “hold” rating in a report on Monday, November 3rd. BNP Paribas Exane cut shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target for the company. in a research report on Wednesday, September 3rd. Citigroup reduced their price objective on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. Jefferies Financial Group decreased their target price on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, Bank of America cut their price target on Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a report on Wednesday, September 3rd. One equities 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $181.88.

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.