iA Global Asset Management Inc. Lowers Stock Holdings in Constellation Brands Inc $STZ

iA Global Asset Management Inc. trimmed its stake in Constellation Brands Inc (NYSE:STZ) by 67.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,475 shares of the company’s stock after selling 7,221 shares during the period. iA Global Asset Management Inc.’s holdings in Constellation Brands were worth $565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in STZ. Zions Bancorporation National Association UT purchased a new stake in Constellation Brands in the 1st quarter valued at about $38,000. Flaharty Asset Management LLC purchased a new stake in shares of Constellation Brands in the 1st quarter worth approximately $39,000. Hoey Investments Inc. purchased a new stake in shares of Constellation Brands in the 2nd quarter worth approximately $40,000. WPG Advisers LLC purchased a new stake in shares of Constellation Brands in the 1st quarter worth approximately $43,000. Finally, Curio Wealth LLC lifted its position in shares of Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock worth $49,000 after purchasing an additional 299 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Sanford C. Bernstein lowered their price target on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. TD Cowen lowered their price target on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a research report on Thursday, September 4th. Morgan Stanley decreased 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. Finally, Citigroup lowered their target price 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $186.44.

Constellation Brands Trading Down 0.5%

Shares of Constellation Brands stock opened at $130.73 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a 12-month low of $127.00 and a 12-month high of $245.31. The firm has a market capitalization of $22.88 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 0.39 and a beta of 1.75. The firm’s 50 day simple moving average is $140.82 and its two-hundred day simple moving average is $162.92.

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 business had revenue of $2.32 billion for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. Analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. Constellation Brands’s dividend payout ratio is presently 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.