South State Corp increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 122.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 390 shares of the company’s stock after buying an additional 215 shares during the period. South State Corp’s holdings in Constellation Brands were worth $91,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Alta Capital Management LLC grew its holdings in Constellation Brands by 59.8% during the 1st quarter. Alta Capital Management LLC now owns 111,299 shares of the company’s stock worth $25,376,000 after acquiring an additional 41,664 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Constellation Brands by 3.1% during the 1st quarter. Thrivent Financial for Lutherans now owns 20,683 shares of the company’s stock worth $4,716,000 after acquiring an additional 627 shares in the last quarter. Sand Hill Global Advisors LLC grew its holdings in Constellation Brands by 10.7% during the 1st quarter. Sand Hill Global Advisors LLC now owns 13,607 shares of the company’s stock worth $3,102,000 after acquiring an additional 1,317 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Constellation Brands by 7.2% during the 1st quarter. Vontobel Holding Ltd. now owns 71,989 shares of the company’s stock worth $16,414,000 after acquiring an additional 4,811 shares in the last quarter. Finally, Stonnington Group LLC acquired a new position in Constellation Brands during the 1st quarter worth $3,611,000. 70.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of STZ stock opened at $215.59 on Wednesday. Constellation Brands, Inc. has a 52-week low of $160.63 and a 52-week high of $244.75. The stock has a market cap of $41.41 billion, a price-to-earnings ratio of 33.79, a P/E/G ratio of 3.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.94 and a current ratio of 1.61. The firm has a fifty day moving average of $218.74 and a 200-day moving average of $227.81.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Stockholders of record on Tuesday, August 10th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.41%. The ex-dividend date of this dividend was Monday, August 9th. Constellation Brands’s payout ratio is 9.33%.
Several research analysts have recently commented on STZ shares. TheStreet lowered shares of Constellation Brands from a “b-” rating to a “c+” rating in a report on Tuesday, July 13th. Evercore ISI dropped their target price on shares of Constellation Brands from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Monday, August 9th. BMO Capital Markets lifted their target price on shares of Constellation Brands from $223.00 to $242.00 and gave the stock a “hold” rating in a research report on Thursday, July 1st. Credit Suisse Group lifted their target price on shares of Constellation Brands from $260.00 to $275.00 and gave the stock an “outperform” rating in a research report on Thursday, July 1st. Finally, Morgan Stanley lifted their target price on shares of Constellation Brands from $260.00 to $266.00 and gave the stock an “overweight” rating in a research report on Thursday, July 1st. Nine equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Buy” and a consensus target price of $248.41.
Constellation Brands Company Profile
Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.
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