V. M. Manning & CO. Inc. Acquires Shares of 7,201 Constellation Brands Inc $STZ

V. M. Manning & CO. Inc. bought a new position in shares of Constellation Brands Inc (NYSE:STZ) in the 2nd quarter, HoldingsChannel reports. The fund bought 7,201 shares of the company’s stock, valued at approximately $1,159,000. Constellation Brands comprises approximately 1.3% of V. M. Manning & CO. Inc.’s investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in STZ. Gilbert & Cook Inc. boosted its stake in Constellation Brands by 2.6% during the 2nd quarter. Gilbert & Cook Inc. now owns 2,385 shares of the company’s stock valued at $388,000 after purchasing an additional 60 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in shares of Constellation Brands by 3.8% in the second quarter. V Square Quantitative Management LLC now owns 1,682 shares of the company’s stock valued at $274,000 after purchasing an additional 62 shares in the last quarter. Oak Asset Management LLC boosted its position in shares of Constellation Brands by 0.4% during the second quarter. Oak Asset Management LLC now owns 18,281 shares of the company’s stock valued at $2,974,000 after buying an additional 70 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Constellation Brands by 9.9% during the first quarter. Geneos Wealth Management Inc. now owns 813 shares of the company’s stock worth $149,000 after buying an additional 73 shares in the last quarter. Finally, RNC Capital Management LLC raised its position in Constellation Brands by 0.6% in the 2nd quarter. RNC Capital Management LLC now owns 13,561 shares of the company’s stock valued at $2,206,000 after buying an additional 77 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.5%

Shares of STZ stock opened at $147.37 on Monday. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The firm has a market cap of $25.80 billion, a P/E ratio of 21.51, a PEG ratio of 0.44 and a beta of 0.46. The company has a 50 day moving average of $136.41 and a 200-day moving average of $152.21. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $241.69.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The business had revenue of $2.32 billion for the quarter. Sell-side analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a $1.02 dividend. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.8%. Constellation Brands’s dividend payout ratio (DPR) is 59.56%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STZ. BMO Capital Markets cut their price objective on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Citigroup reduced their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. TD Cowen dropped their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a research report on Thursday, September 4th. Deutsche Bank Aktiengesellschaft cut their target price on Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company decreased their price target on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Hold” and an average 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.