EFG Asset Management Americas Corp. lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 24.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,062 shares of the company’s stock after buying an additional 4,740 shares during the quarter. Constellation Brands comprises approximately 1.5% of EFG Asset Management Americas Corp.’s holdings, making the stock its 23rd biggest position. EFG Asset Management Americas Corp.’s holdings in Constellation Brands were worth $4,988,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in Constellation Brands by 120.4% during the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock worth $537,087,000 after purchasing an additional 1,490,064 shares during the period. Bank of America Corp DE boosted its position in Constellation Brands by 65.0% during the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock worth $697,895,000 after purchasing an additional 1,395,888 shares during the period. Nuveen Asset Management LLC boosted its position in Constellation Brands by 14,808.3% during the second quarter. Nuveen Asset Management LLC now owns 655,518 shares of the company’s stock worth $129,098,000 after purchasing an additional 651,121 shares during the period. Invesco Ltd. boosted its position in Constellation Brands by 68.1% during the second quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock worth $305,847,000 after purchasing an additional 629,124 shares during the period. Finally, Westfield Capital Management Co. LP bought a new position in Constellation Brands during the second quarter worth $111,030,000. 71.61% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on STZ shares. BMO Capital Markets lifted their price objective on shares of Constellation Brands from $225.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 17th. Evercore ISI set a $220.00 price objective on shares of Constellation Brands and gave the stock a “buy” rating in a research report on Friday, August 9th. MKM Partners reduced their price objective on shares of Constellation Brands to $256.00 and set a “buy” rating for the company in a research report on Friday, October 4th. TheStreet cut shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Thursday, October 3rd. Finally, OTR Global raised shares of Constellation Brands to a “positive” rating in a research report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Constellation Brands currently has a consensus rating of “Buy” and an average price target of $223.76.
STZ opened at $184.52 on Tuesday. Constellation Brands, Inc. has a fifty-two week low of $150.37 and a fifty-two week high of $214.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.61. The company has a market capitalization of $35.94 billion, a P/E ratio of 19.88, a P/E/G ratio of 2.81 and a beta of 0.67. The stock has a fifty day moving average of $196.27 and a 200-day moving average of $197.94.
Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.12. Constellation Brands had a return on equity of 14.66% and a net margin of 8.59%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same quarter last year, the firm earned $2.87 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands, Inc. will post 8.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s dividend payout ratio is currently 32.33%.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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