M&T Bank Corp Sells 18,083 Shares of Constellation Brands Inc $STZ

M&T Bank Corp trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 43.2% during the second quarter, Holdings Channel reports. The firm owned 23,756 shares of the company’s stock after selling 18,083 shares during the quarter. M&T Bank Corp’s holdings in Constellation Brands were worth $3,865,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Zions Bancorporation National Association UT bought a new stake in Constellation Brands in the first quarter worth approximately $38,000. Flaharty Asset Management LLC bought a new position in shares of Constellation Brands during the 1st quarter worth approximately $39,000. Hoey Investments Inc. acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $40,000. WPG Advisers LLC acquired a new stake in shares of Constellation Brands during the 1st quarter worth approximately $43,000. Finally, Curio Wealth LLC increased its stake in shares of Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock valued at $49,000 after acquiring an additional 299 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.0%

STZ opened at $138.09 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $245.31. The firm has a market capitalization of $24.17 billion, a PE ratio of 20.16, a P/E/G ratio of 0.41 and a beta of 0.46. The company’s 50-day moving average is $135.45 and its 200 day moving average is $154.35.

Constellation Brands (NYSE:STZ) last released its quarterly 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 during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. As a group, research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio is presently 59.56%.

Analyst Ratings Changes

Several research analysts recently issued reports on STZ shares. BMO Capital Markets cut their target price on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Roth Capital reiterated a “buy” rating and set a $209.00 price objective (down previously from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. JPMorgan Chase & Co. assumed coverage on shares of Constellation Brands in a research report on Friday, November 7th. They set a “neutral” rating and a $153.00 price objective on the stock. Wells Fargo & Company reduced their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, UBS Group set a $160.00 target price on Constellation Brands in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Constellation Brands has a consensus rating of “Hold” and a consensus target price of $181.88.

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.