Copperwynd Financial LLC Decreases Stock Holdings in Constellation Brands Inc $STZ

Copperwynd Financial LLC trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 5.5% during the 2nd quarter, Holdings Channel reports. The fund owned 3,715 shares of the company’s stock after selling 216 shares during the period. Copperwynd Financial LLC’s holdings in Constellation Brands were worth $604,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Constellation Brands by 18.6% during 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% during 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. Charles Schwab Investment Management Inc. raised 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 valued at $352,748,000 after buying an additional 139,158 shares during the period. Dimensional Fund Advisors LP raised its holdings in Constellation Brands by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company’s stock valued at $310,851,000 after buying an additional 76,186 shares during the period. Finally, Northern Trust Corp raised its holdings in Constellation Brands by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,534,357 shares of the company’s stock valued at $281,585,000 after buying an additional 17,832 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares of the company’s stock, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STZ has been the topic of several recent research reports. Barclays restated an “equal weight” rating and set a $150.00 price target (down previously from $202.00) on shares of Constellation Brands in a report on Friday, September 12th. BMO Capital Markets decreased their price target on Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. UBS Group set a $160.00 price objective on Constellation Brands in a research report on Tuesday. TD Cowen cut their price objective on Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a research report on Thursday, September 4th. Finally, BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $186.56.

Constellation Brands Price Performance

STZ opened at $142.79 on Thursday. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $247.63. The company has a current ratio of 1.08, a quick ratio of 0.68 and a debt-to-equity ratio of 1.26. The business’s fifty day simple moving average is $151.76 and its 200-day simple moving average is $168.70. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 0.42 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Monday, October 6th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.37 by $0.26. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter in the prior year, the company earned $4.32 EPS. The business’s revenue was down 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

About Constellation Brands

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.