RNC Capital Management LLC Reduces Stake in Constellation Brands Inc $STZ

RNC Capital Management LLC reduced its position in Constellation Brands Inc (NYSE:STZ) by 48.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,970 shares of the company’s stock after selling 6,514 shares during the period. RNC Capital Management LLC’s holdings in Constellation Brands were worth $962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Altrius Capital Management Inc raised its holdings in Constellation Brands by 25.1% in the 4th quarter. Altrius Capital Management Inc now owns 36,590 shares of the company’s stock worth $5,048,000 after purchasing an additional 7,349 shares during the period. Montag A & Associates Inc. raised its holdings in Constellation Brands by 404.8% in the 4th quarter. Montag A & Associates Inc. now owns 2,014 shares of the company’s stock worth $278,000 after purchasing an additional 1,615 shares during the period. Souders Financial Advisors bought a new position in Constellation Brands in the 4th quarter worth $218,000. Benjamin Edwards Inc. raised its holdings in Constellation Brands by 6.3% in the 4th quarter. Benjamin Edwards Inc. now owns 4,889 shares of the company’s stock worth $675,000 after purchasing an additional 288 shares during the period. Finally, Horizon Investments LLC raised its holdings in Constellation Brands by 31.3% in the 4th quarter. Horizon Investments LLC now owns 9,402 shares of the company’s stock worth $1,297,000 after purchasing an additional 2,243 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

NYSE:STZ opened at $148.25 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The business’s 50-day simple moving average is $154.67 and its two-hundred day simple moving average is $147.75. The stock has a market cap of $25.53 billion, a PE ratio of 15.46, a P/E/G ratio of 3.35 and a beta of 0.43. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $196.91.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period last year, the firm earned $2.63 earnings per share. As a group, analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be issued a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 29th. Constellation Brands’s payout ratio is presently 42.96%.

Analysts Set New Price Targets

A number of brokerages recently commented on STZ. TD Cowen raised Constellation Brands from a “hold” rating to a “buy” rating and raised their target price for the stock from $142.00 to $190.00 in a report on Monday, April 13th. JPMorgan Chase & Co. raised their target price on Constellation Brands from $155.00 to $163.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. BMO Capital Markets reaffirmed an “outperform” rating and issued a $190.00 target price on shares of Constellation Brands in a report on Friday, January 9th. Evercore set a $175.00 target price on Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. Finally, Barclays raised their target price on Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.14.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.