DAVENPORT & Co LLC Buys 13,722 Shares of Constellation Brands Inc $STZ

DAVENPORT & Co LLC lifted its stake in shares of Constellation Brands Inc (NYSE:STZ) by 6.6% during the second quarter, HoldingsChannel.com reports. The firm owned 221,377 shares of the company’s stock after purchasing an additional 13,722 shares during the quarter. DAVENPORT & Co LLC’s holdings in Constellation Brands were worth $35,937,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of 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 during the period. Wellington Management Group LLP grew 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 acquiring an additional 2,514,517 shares in the last quarter. Nuveen LLC bought a new stake in Constellation Brands during the 1st quarter worth approximately $63,377,000. Charles Schwab Investment Management Inc. increased its holdings in Constellation Brands by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock worth $352,748,000 after acquiring an additional 139,158 shares during the period. Finally, CORDA Investment Management LLC. purchased a new stake in Constellation Brands in the 1st quarter worth approximately $22,820,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $142.20 on Monday. The firm has a market capitalization of $25.07 billion, a PE ratio of -59.50, a price-to-earnings-growth ratio of 0.43 and a beta of 1.75. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 12 month low of $131.20 and a 12 month high of $247.96. The business’s 50-day moving average price is $153.72 and its 200-day moving average price is $169.35.

Constellation Brands Dividend Announcement

The firm also recently disclosed 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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s payout ratio is presently -170.71%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the company’s stock in a transaction on Monday, July 21st. The shares were 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 of the company’s stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. The Goldman Sachs Group decreased their target price on Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday. Barclays reaffirmed an “equal weight” rating and issued a $150.00 price target (down previously from $202.00) on shares of Constellation Brands in a report on Friday, September 12th. Sanford C. Bernstein cut their price objective on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Finally, UBS Group lowered their target price on shares of Constellation Brands from $205.00 to $175.00 and set a “buy” rating on the stock in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average price target of $188.96.

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.