ELCO Management Co. LLC Has $642,000 Stock Position in Constellation Brands Inc $STZ

ELCO Management Co. LLC raised its holdings in Constellation Brands Inc (NYSE:STZ) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 3,946 shares of the company’s stock after acquiring an additional 115 shares during the quarter. ELCO Management Co. LLC’s holdings in Constellation Brands were worth $642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position 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 acquiring an additional 2,882,817 shares during the period. Wellington Management Group LLP increased its position in shares of Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after buying an additional 2,514,517 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Constellation Brands by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock worth $352,748,000 after buying an additional 139,158 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Constellation Brands by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company’s stock worth $310,851,000 after buying an additional 76,186 shares during the period. Finally, Northern Trust Corp increased its position in shares of Constellation Brands by 1.2% during the first quarter. Northern Trust Corp now owns 1,534,357 shares of the company’s stock worth $281,585,000 after buying an additional 17,832 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STZ has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Roth Capital reiterated a “buy” rating and set a $209.00 price objective (down from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. Barclays decreased their price objective on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a research report on Thursday, October 9th. Weiss Ratings upgraded shares of Constellation Brands from a “sell (d)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group decreased their price objective on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” 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 given a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Stock Down 2.6%

Shares of NYSE STZ opened at $134.31 on Wednesday. The firm has a market cap of $23.51 billion, a PE ratio of 19.61, a P/E/G ratio of 0.41 and a beta of 0.66. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $245.31. The company’s fifty day simple moving average is $143.63 and its 200 day simple moving average is $164.61. 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 business 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%. As a group, sell-side analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is 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.