TD Waterhouse Canada Inc. Reduces Stock Position in Constellation Brands Inc $STZ

TD Waterhouse Canada Inc. trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 6.2% in the second quarter, Holdings Channel reports. The institutional investor owned 24,317 shares of the company’s stock after selling 1,620 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Constellation Brands were worth $4,044,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Portside Wealth Group LLC purchased a new position in shares of Constellation Brands in the second quarter valued at $263,000. Nordwand Advisors LLC bought a new position in Constellation Brands in the 2nd quarter worth about $1,426,000. Poehling Capital Management INC. purchased a new position in Constellation Brands during the 2nd quarter valued at about $1,771,000. Cetera Investment Advisers increased its position in shares of Constellation Brands by 7.2% during the second quarter. Cetera Investment Advisers now owns 36,914 shares of the company’s stock valued at $6,005,000 after buying an additional 2,473 shares during the period. Finally, Creative Planning lifted its holdings in shares of Constellation Brands by 99.2% in the second quarter. Creative Planning now owns 61,844 shares of the company’s stock worth $10,061,000 after buying an additional 30,805 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on STZ. JPMorgan Chase & Co. initiated coverage on Constellation Brands in a research report on Friday, November 7th. They set a “neutral” rating and a $153.00 target price for the company. The Goldman Sachs Group cut their price objective on Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Zacks Research upgraded shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. Finally, UBS Group set a $160.00 price target on Constellation Brands in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and an average price target of $186.44.

Constellation Brands Stock Up 0.8%

STZ opened at $130.37 on Friday. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $245.31. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The business’s 50-day moving average price is $135.11 and its 200-day moving average price is $158.11. The company has a market cap of $22.82 billion, a P/E ratio of 19.03, a P/E/G ratio of 0.39 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The business had revenue of $2.32 billion for the quarter. On average, equities analysts expect that Constellation Brands Inc will post 13.5 EPS for the current 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 3.1%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s dividend payout ratio is currently 59.56%.

Constellation Brands Company 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.