Camden National Bank Decreases Stake in Constellation Brands Inc $STZ

Camden National Bank lessened its stake in Constellation Brands Inc (NYSE:STZ) by 28.0% in the second quarter, HoldingsChannel.com reports. The firm owned 48,073 shares of the company’s stock after selling 18,677 shares during the quarter. Camden National Bank’s holdings in Constellation Brands were worth $7,821,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STZ. Vanguard Group Inc. increased 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 buying an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP increased its stake in Constellation Brands by 127.9% in the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after purchasing an additional 2,514,517 shares in the last quarter. Geode Capital Management LLC increased its stake in Constellation Brands by 13.6% in the 2nd quarter. Geode Capital Management LLC now owns 3,737,860 shares of the company’s stock valued at $605,293,000 after purchasing an additional 448,259 shares in the last quarter. Nuveen LLC acquired a new position in Constellation Brands during the first quarter worth $63,377,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Constellation Brands by 5,058.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 285,289 shares of the company’s stock worth $46,411,000 after purchasing an additional 279,758 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research analyst reports. BNP Paribas Exane cut Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target for the company. in a research report on Wednesday, September 3rd. Barclays lowered their price objective on shares of 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. Morgan Stanley cut their target price on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Bank of America reduced their price target on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a report on Wednesday, September 3rd. Finally, Sanford C. Bernstein dropped their price objective on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $185.04.

Constellation Brands Price Performance

Constellation Brands stock opened at $133.59 on Friday. The stock has a market capitalization of $23.38 billion, a P/E ratio of 19.50, a P/E/G ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $245.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The firm’s 50-day moving average is $134.99 and its two-hundred day moving average is $157.73.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.32 billion for the quarter. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a dividend of $1.02 per share. The ex-dividend date was Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. 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.