Garner Asset Management Corp Sells 430 Shares of Constellation Brands Inc $STZ

Garner Asset Management Corp lowered its holdings in Constellation Brands Inc (NYSE:STZ) by 9.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,967 shares of the company’s stock after selling 430 shares during the period. Garner Asset Management Corp’s holdings in Constellation Brands were worth $645,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of STZ. Vanguard Group Inc. raised its holdings in Constellation Brands by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock valued at $3,379,999,000 after acquiring an additional 2,882,817 shares during the period. Wellington Management Group LLP grew its position in shares of Constellation Brands by 127.9% in the first 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 raised its stake in shares of Constellation Brands by 13.6% during 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 during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Constellation Brands by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,969,081 shares of the company’s stock valued at $320,329,000 after purchasing an additional 46,959 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Constellation Brands by 4.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company’s stock worth $310,851,000 after purchasing an additional 76,186 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Constellation Brands in a report on Tuesday. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Barclays decreased their target price on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Jefferies Financial Group cut their price target on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. started coverage on shares of Constellation Brands in a research report on Friday, November 7th. They set a “neutral” rating and a $153.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $181.88.

Constellation Brands Stock Performance

Constellation Brands stock opened at $135.06 on Thursday. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $245.31. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The stock has a market cap of $23.64 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75. The firm’s fifty day moving average price is $134.92 and its 200-day moving average price is $156.33.

Constellation Brands (NYSE:STZ) last released its earnings results 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. On average, equities research analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal 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 dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th. 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.