Constellation Brands Inc $STZ Shares Acquired by OFI Invest Asset Management

OFI Invest Asset Management raised its position in shares of Constellation Brands Inc (NYSE:STZ) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,596 shares of the company’s stock after buying an additional 239 shares during the quarter. OFI Invest Asset Management’s holdings in Constellation Brands were worth $6,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. Vanguard Group Inc. raised its stake in Constellation Brands by 18.6% during the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock valued at $3,379,999,000 after buying an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP raised its stake in Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after buying an additional 2,514,517 shares in the last quarter. Nuveen LLC acquired a new stake in Constellation Brands during the first quarter valued at approximately $63,377,000. DAVENPORT & Co LLC raised its stake in Constellation Brands by 1,594.0% during the first quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company’s stock valued at $38,132,000 after buying an additional 195,397 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Constellation Brands by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock valued at $352,748,000 after purchasing an additional 139,158 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on STZ. Jefferies Financial Group lowered 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. Raymond James Financial raised Constellation Brands to a “strong-buy” rating in a report on Monday, July 7th. Wells Fargo & Company lowered their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Barclays lowered their target price on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Constellation Brands in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $186.44.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Performance

STZ opened at $141.42 on Friday. The firm has a market cap of $24.93 billion, a PE ratio of 20.65, a P/E/G ratio of 0.42 and a beta of 1.75. The company has a quick ratio of 0.68, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $150.78 and a 200-day simple moving average of $168.07. Constellation Brands Inc has a fifty-two week low of $131.20 and a fifty-two week high of $247.63.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The business had revenue of $2.32 billion during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. As a group, equities analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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