Wealthfront Advisers LLC Trims Stock Holdings in Constellation Brands Inc $STZ

Wealthfront Advisers LLC reduced its stake in Constellation Brands Inc (NYSE:STZ) by 35.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,309 shares of the company’s stock after selling 2,334 shares during the period. Wealthfront Advisers LLC’s holdings in Constellation Brands were worth $701,000 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 holdings in Constellation Brands by 18.6% in the 1st 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 during the period. Wellington Management Group LLP raised its holdings in Constellation Brands by 127.9% in the 1st 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 during the period. Nuveen LLC purchased a new stake in Constellation Brands in the 1st quarter valued at about $63,377,000. Nordea Investment Management AB raised its holdings in Constellation Brands by 47.6% in the 2nd quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock valued at $98,538,000 after buying an additional 195,784 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Constellation Brands by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock valued at $352,748,000 after buying an additional 139,158 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on STZ shares. Cowen reaffirmed a “hold” rating on shares of Constellation Brands in a research report on Monday, July 7th. TD Cowen dropped their target price 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. Morgan Stanley dropped their target price on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Raymond James Financial raised Constellation Brands to a “strong-buy” rating in a research report on Monday, July 7th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $131.40 on Friday. The firm has a market capitalization of $23.00 billion, a P/E ratio of 19.18, a P/E/G ratio of 0.39 and a beta of 0.66. Constellation Brands Inc has a 52 week low of $127.00 and a 52 week high of $245.31. 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 firm’s 50 day moving average is $141.49 and its two-hundred day moving average is $163.59.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The company had revenue of $2.32 billion for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. Research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s dividend payout ratio is currently 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.