Rockefeller Capital Management L.P. Sells 857 Shares of Constellation Brands Inc $STZ

Rockefeller Capital Management L.P. cut its stake in Constellation Brands Inc (NYSE:STZ) by 1.0% during the second quarter, HoldingsChannel reports. The fund owned 82,433 shares of the company’s stock after selling 857 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Constellation Brands were worth $13,410,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STZ. Arlington Partners LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $2,333,000. AlphaQuest LLC lifted its position in Constellation Brands by 350.7% during the second quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock valued at $842,000 after acquiring an additional 4,029 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Constellation Brands by 969.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after acquiring an additional 75,834 shares during the last quarter. 49 Wealth Management LLC acquired a new stake in Constellation Brands in the second quarter valued at approximately $373,000. Finally, Heritage Investors Management Corp grew its holdings in Constellation Brands by 6.2% in the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock worth $23,886,000 after purchasing an additional 8,613 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on STZ shares. Needham & Company LLC reaffirmed a “buy” rating and set a $180.00 price target on shares of Constellation Brands in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. Zacks Research upgraded Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Sanford C. Bernstein dropped their price target on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Finally, Barclays cut their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Stock Down 0.2%

Constellation Brands stock opened at $130.73 on Wednesday. The business’s 50-day simple moving average is $135.63 and its two-hundred day simple moving average is $158.50. 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 company has a market cap of $22.88 billion, a PE ratio of 19.08, a PEG ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $245.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The firm had revenue of $2.32 billion during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. Equities analysts anticipate 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 was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s 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.