Narwhal Capital Management Lowers Stock Holdings in Constellation Brands Inc $STZ

Narwhal Capital Management trimmed its position in Constellation Brands Inc (NYSE:STZ) by 13.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,832 shares of the company’s stock after selling 4,212 shares during the quarter. Narwhal Capital Management’s holdings in Constellation Brands were worth $4,365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arlington Partners LLC purchased a new stake in shares of Constellation Brands in the second quarter worth about $2,333,000. Wesbanco Bank Inc. lifted its holdings in shares of Constellation Brands by 10.7% in the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock worth $7,049,000 after buying an additional 4,204 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Constellation Brands by 969.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after buying an additional 75,834 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock worth $560,000 after buying an additional 815 shares in the last quarter. Finally, Glenview Trust co lifted its holdings in shares of Constellation Brands by 6.8% in the first quarter. Glenview Trust co now owns 69,427 shares of the company’s stock worth $12,741,000 after buying an additional 4,421 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Zacks Research cut shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. Barclays restated an “equal weight” rating and issued a $150.00 price objective (down from $202.00) on shares of Constellation Brands in a research report on Friday, September 12th. Finally, BNP Paribas cut shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $186.56.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares of the company’s stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.45% of the company’s stock.

Constellation Brands Stock Up 1.9%

Shares of NYSE STZ opened at $142.79 on Thursday. Constellation Brands Inc has a one year low of $131.20 and a one year high of $247.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $151.76 and its two-hundred day simple moving average is $168.70. The stock has a market capitalization of $25.17 billion, a P/E ratio of 20.85, a PEG ratio of 0.42 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Monday, October 6th. The company reported $3.63 EPS for the quarter, beating analysts’ consensus estimates of $3.37 by $0.26. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.68 billion. During the same period last year, the business earned $4.32 earnings per share. The business’s quarterly revenue was down 15.0% on a year-over-year basis. As a group, analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands’s dividend payout ratio is 59.56%.

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.