Douglas Lane & Associates LLC Has $4.08 Million Stock Position in Constellation Brands Inc $STZ

Douglas Lane & Associates LLC trimmed its stake in Constellation Brands Inc (NYSE:STZ) by 68.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,259 shares of the company’s stock after selling 67,180 shares during the period. Douglas Lane & Associates LLC’s holdings in Constellation Brands were worth $4,075,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Constellation Brands by 350.7% in the 2nd quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock valued at $842,000 after buying an additional 4,029 shares in the last quarter. Arlington Partners LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $2,333,000. 49 Wealth Management LLC bought a new stake in Constellation Brands during the 2nd quarter worth about $373,000. Heritage Investors Management Corp boosted its position in Constellation Brands by 6.2% during the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock valued at $23,886,000 after purchasing an additional 8,613 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Constellation Brands by 969.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after buying an additional 75,834 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. BNP Paribas downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Roth Capital reaffirmed a “buy” rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. The Goldman Sachs Group cut their target price on Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. TD Cowen dropped their price objective on Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a research report on Thursday, September 4th. Finally, Wells Fargo & Company decreased their target price on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has an average rating of “Hold” and an average price target of $181.96.

Constellation Brands Price Performance

Shares of STZ opened at $134.96 on Monday. The business’s fifty day moving average is $136.23 and its 200 day moving average is $150.88. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $229.07. 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 $23.62 billion, a P/E ratio of 19.70, a P/E/G ratio of 0.41 and a beta of 0.46.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results 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. Sell-side analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.