Constellation Brands Inc $STZ Stake Trimmed by Eagle Rock Investment Company LLC

Eagle Rock Investment Company LLC reduced its holdings in Constellation Brands Inc (NYSE:STZ) by 19.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,845 shares of the company’s stock after selling 5,893 shares during the quarter. Eagle Rock Investment Company LLC’s holdings in Constellation Brands were worth $2,696,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STZ. Ables Iannone Moore & Associates Inc. raised its holdings in Constellation Brands by 105.2% in the 3rd quarter. Ables Iannone Moore & Associates Inc. now owns 16,904 shares of the company’s stock worth $1,911,000 after purchasing an additional 8,667 shares in the last quarter. Ally Financial Inc. purchased a new stake in shares of Constellation Brands in the 2nd quarter worth about $1,600,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Constellation Brands in the 2nd quarter worth about $31,582,000. Concurrent Investment Advisors LLC boosted its stake in shares of Constellation Brands by 1,613.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 27,915 shares of the company’s stock valued at $3,883,000 after purchasing an additional 26,286 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of Constellation Brands during the 2nd quarter valued at about $21,683,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ stock opened at $131.96 on Thursday. The company’s fifty day moving average price is $125.25 and its 200-day moving average price is $136.80. The stock has a market cap of $22.33 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.72 and a beta of 1.75. The company has a current ratio of 1.00, a quick ratio of 0.53 and a debt-to-equity ratio of 1.02. Constellation Brands Inc has a 12 month low of $110.60 and a 12 month high of $168.60.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Tuesday, October 6th. The company reported $3.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.62 by $0.12. Constellation Brands had a net margin of 19.57% and a return on equity of 24.75%. The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the company posted $3.63 EPS. Constellation Brands’s revenue was up 6.1% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. On average, equities analysts expect that Constellation Brands Inc will post 11.85 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 30th will be paid a dividend of $1.03 per share. The ex-dividend date of this dividend is Friday, October 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. Constellation Brands’s dividend payout ratio (DPR) is currently 36.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. TD Cowen reduced their price target on shares of Constellation Brands from $174.00 to $150.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $170.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, October 5th. Citigroup reaffirmed a “negative” rating on shares of Constellation Brands in a research report on Wednesday, October 7th. Raymond James Financial set a $150.00 price objective on Constellation Brands in a research report on Thursday, September 17th. Finally, Roth Capital reiterated a “buy” rating and set a $209.00 target price on shares of Constellation Brands in a report on Thursday, July 2nd. Twelve investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $153.09.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, produces, markets and distributes beer, wine and spirits. Its beer portfolio includes Modelo Especial, Corona Extra, Corona Light, Pacifico and Victoria, while its wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company, Simi, Ruffino, High West and Casa Noble.

The company’s beer business is primarily focused on the United States, where Constellation markets and distributes several leading Mexican beer brands under license from Grupo Modelo.