AMI Asset Management Corp Lowers Position in Constellation Brands Inc $STZ

AMI Asset Management Corp decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 40.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,990 shares of the company’s stock after selling 62,382 shares during the quarter. AMI Asset Management Corp owned about 0.05% of Constellation Brands worth $14,802,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Liberty Capital Management Inc. raised its stake in Constellation Brands by 3.0% during the second quarter. Liberty Capital Management Inc. now owns 22,612 shares of the company’s stock valued at $3,679,000 after purchasing an additional 664 shares in the last quarter. Cooper Financial Group raised its stake in Constellation Brands by 19.7% during the second quarter. Cooper Financial Group now owns 4,271 shares of the company’s stock valued at $695,000 after purchasing an additional 703 shares in the last quarter. XML Financial LLC raised its stake in Constellation Brands by 38.2% during the second quarter. XML Financial LLC now owns 2,189 shares of the company’s stock valued at $356,000 after purchasing an additional 605 shares in the last quarter. Sterling Investment Advisors Ltd. raised its stake in Constellation Brands by 8.0% during the second quarter. Sterling Investment Advisors Ltd. now owns 8,066 shares of the company’s stock valued at $1,312,000 after purchasing an additional 597 shares in the last quarter. Finally, HB Wealth Management LLC increased its position in Constellation Brands by 5.2% during the second quarter. HB Wealth Management LLC now owns 13,333 shares of the company’s stock valued at $2,169,000 after acquiring an additional 655 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

STZ stock opened at $138.95 on Thursday. The firm has a market cap of $24.50 billion, a price-to-earnings ratio of -58.14, a PEG ratio of 0.40 and a beta of 0.67. The firm has a 50-day simple moving average of $155.10 and a two-hundred day simple moving average of $170.03. Constellation Brands Inc has a one year low of $131.20 and a one year high of $257.36. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). The company had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.57 earnings per share. On average, equities analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is currently -170.71%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STZ. Roth Capital reiterated a “buy” rating and set a $209.00 price objective (down previously from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. UBS Group boosted their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 3rd. Finally, Sanford C. Bernstein cut their price objective on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $191.28.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.45% of the company’s stock.

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.