FLC Capital Advisors Grows Position in Constellation Brands Inc $STZ

FLC Capital Advisors lifted its stake in Constellation Brands Inc (NYSE:STZ) by 11.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,593 shares of the company’s stock after acquiring an additional 464 shares during the quarter. FLC Capital Advisors’ holdings in Constellation Brands were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock valued at $3,379,999,000 after acquiring an additional 2,882,817 shares during the period. Wellington Management Group LLP lifted its holdings in Constellation Brands by 127.9% in 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 during the period. Nuveen LLC bought a new position in Constellation Brands in the first quarter valued at about $63,377,000. Nordea Investment Management AB lifted its holdings in Constellation Brands by 47.6% in the second quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock valued at $98,538,000 after acquiring an additional 195,784 shares during the period. Finally, DAVENPORT & Co LLC lifted its holdings in Constellation Brands by 1,594.0% in the first quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company’s stock valued at $38,132,000 after acquiring an additional 195,397 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the topic of a number of recent research reports. BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Citigroup lowered their target price on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a report on Tuesday, September 23rd. TD Cowen lowered their target price on Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. Barclays decreased their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Finally, Zacks Research downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 9th. 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has an average rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Stock Up 0.8%

NYSE STZ opened at $140.41 on Monday. The stock’s 50-day moving average price is $147.73 and its 200-day moving average price is $166.46. The company has a market capitalization of $24.58 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Constellation Brands Inc has a 52 week low of $131.20 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.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The company had revenue of $2.32 billion for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

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