Constellation Brands Inc $STZ Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its position in Constellation Brands Inc (NYSE:STZ) by 6.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 53,567 shares of the company’s stock after selling 3,920 shares during the period. Mackenzie Financial Corp’s holdings in Constellation Brands were worth $8,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. AlphaQuest LLC grew its stake in Constellation Brands by 350.7% in the 2nd quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock valued at $842,000 after acquiring an additional 4,029 shares during the last quarter. Arlington Partners LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $2,333,000. 49 Wealth Management LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $373,000. Heritage Investors Management Corp grew its position in shares of Constellation Brands by 6.2% in the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock valued at $23,886,000 after purchasing an additional 8,613 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Constellation Brands by 969.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after purchasing an additional 75,834 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on STZ. Wells Fargo & Company reduced their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. UBS Group set a $160.00 price target on Constellation Brands in a report on Tuesday, October 7th. Roth Capital restated a “buy” rating and issued a $209.00 price objective (down from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. TD Cowen dropped their price objective on Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a research report on Thursday, September 4th. Finally, BNP Paribas Exane lowered shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 target price on the stock. in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Hold” and a consensus target price of $181.88.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $137.95 on Wednesday. The company has a market cap of $24.15 billion, a P/E ratio of 20.14, a P/E/G ratio of 0.39 and a beta of 1.75. The business has a fifty day simple moving average of $135.25 and a 200-day simple moving average of $154.58. Constellation Brands Inc has a 52 week low of $126.45 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 quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The firm 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%. Equities research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

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