Atlantic Edge Private Wealth Management LLC Acquires 240 Shares of Constellation Brands Inc $STZ

Atlantic Edge Private Wealth Management LLC boosted its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,290 shares of the company’s stock after acquiring an additional 240 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Constellation Brands were worth $1,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT bought a new position in Constellation Brands during the first quarter valued at approximately $38,000. Flaharty Asset Management LLC bought a new position in Constellation Brands during the first quarter valued at approximately $39,000. WPG Advisers LLC bought a new position in shares of Constellation Brands in the first quarter valued at approximately $43,000. Hoey Investments Inc. bought a new position in shares of Constellation Brands in the second quarter valued at approximately $40,000. Finally, Pinnacle Bancorp Inc. raised its position in shares of Constellation Brands by 45.5% in the first quarter. Pinnacle Bancorp Inc. now owns 278 shares of the company’s stock valued at $51,000 after purchasing an additional 87 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.5%

Shares of Constellation Brands stock opened at $141.11 on Tuesday. The company’s fifty day simple moving average is $147.17 and its 200-day simple moving average is $166.23. The company has a market cap of $24.70 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 0.42 and a beta of 1.75. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a 1 year low of $131.20 and a 1 year 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 business had revenue of $2.32 billion for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. As a group, sell-side analysts expect that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s payout ratio is currently 59.56%.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. BMO Capital Markets dropped their price target on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. Sanford C. Bernstein dropped their price target 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. Finally, TD Cowen dropped their price target on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a research report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $186.44.

Constellation Brands Profile

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.