Envestnet Asset Management Inc. Sells 11,227 Shares of Constellation Brands Inc $STZ

Envestnet Asset Management Inc. lowered its position in Constellation Brands Inc (NYSE:STZ) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 297,793 shares of the company’s stock after selling 11,227 shares during the period. Envestnet Asset Management Inc.’s holdings in Constellation Brands were worth $48,445,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 during the period. Wellington Management Group LLP raised its position in shares of Constellation Brands by 127.9% in the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after acquiring an additional 2,514,517 shares in the last quarter. Nuveen LLC acquired a new position in shares of Constellation Brands in the 1st quarter valued at about $63,377,000. Nordea Investment Management AB boosted its position in shares of Constellation Brands by 47.6% during the 2nd quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock valued at $98,538,000 after purchasing an additional 195,784 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Constellation Brands by 7.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock valued at $352,748,000 after purchasing an additional 139,158 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. BNP Paribas lowered shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Bank of America cut their target price on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a research note on Wednesday, September 3rd. Finally, Citigroup decreased their price target on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Trading Up 2.0%

NYSE STZ opened at $131.40 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $23.00 billion, a P/E ratio of 19.18, a PEG ratio of 0.39 and a beta of 0.66. The business has a fifty day simple moving average of $141.49 and a 200 day simple moving average of $163.59. Constellation Brands Inc has a 12 month low of $127.00 and a 12 month high of $245.31.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The company had revenue of $2.32 billion during the quarter. On average, analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s payout ratio is presently 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.