Magnolia Capital Management Ltd. Lowers Stake in Constellation Brands Inc $STZ

Magnolia Capital Management Ltd. trimmed its position in Constellation Brands Inc (NYSE:STZ) by 6.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,125 shares of the company’s stock after selling 220 shares during the quarter. Magnolia Capital Management Ltd.’s holdings in Constellation Brands were worth $508,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Arlington Partners LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter valued at $2,333,000. Wesbanco Bank Inc. raised its holdings in shares of Constellation Brands by 10.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock valued at $7,049,000 after purchasing an additional 4,204 shares in the last quarter. Assenagon Asset Management S.A. raised 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 purchasing an additional 75,834 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. Finally, Glenview Trust co raised its holdings in shares of Constellation Brands by 6.8% in the 1st quarter. Glenview Trust co now owns 69,427 shares of the company’s stock valued at $12,741,000 after purchasing an additional 4,421 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 1.0%

Shares of NYSE STZ opened at $140.04 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $247.63. The firm has a 50-day moving average price of $152.33 and a 200 day moving average price of $168.88. The stock has a market capitalization of $24.69 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Monday, October 6th. The company reported $3.63 EPS for the quarter, beating the consensus estimate of $3.37 by $0.26. Constellation Brands had a net margin of 11.88% and a return on equity of 30.03%. The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.68 billion. During the same quarter last year, the business earned $4.32 earnings per share. The business’s revenue for the quarter was down 15.0% compared to the same quarter last year. Equities research analysts anticipate 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. Shareholders of record on Thursday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s payout ratio is presently -170.71%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Cowen restated a “hold” rating on shares of Constellation Brands in a report on Monday, July 7th. Barclays reiterated an “equal weight” rating and set a $150.00 price target (down from $202.00) on shares of Constellation Brands in a research note on Friday, September 12th. Roth Capital reiterated a “buy” rating and set a $209.00 price target (down from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. BNP Paribas Exane lowered shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target on the stock. in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $187.72.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 12.45% of the company’s stock.

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.