Mutual of America Capital Management LLC Lowers Stock Position in Constellation Brands Inc $STZ

Mutual of America Capital Management LLC cut its position in shares of Constellation Brands Inc (NYSE:STZ) by 2.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,562 shares of the company’s stock after selling 521 shares during the period. Mutual of America Capital Management LLC’s holdings in Constellation Brands were worth $2,857,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Zions Bancorporation National Association UT purchased a new stake in Constellation Brands during the first quarter worth $38,000. Flaharty Asset Management LLC purchased a new position in Constellation Brands during the first quarter valued at $39,000. WPG Advisers LLC purchased a new position in Constellation Brands during the first quarter valued at $43,000. Hoey Investments Inc. purchased a new position in Constellation Brands during the second quarter valued at $40,000. Finally, Blume Capital Management Inc. lifted its holdings in Constellation Brands by 100.0% during the first quarter. Blume Capital Management Inc. now owns 400 shares of the company’s stock valued at $73,000 after purchasing an additional 200 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on STZ. Morgan Stanley decreased their price objective on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Roth Capital reaffirmed a “buy” rating and set a $209.00 price objective (down from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. Jefferies Financial Group decreased their price objective on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Barclays decreased 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. Finally, The Goldman Sachs Group decreased their price objective on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, Constellation Brands has an average rating of “Hold” and a consensus target price of $186.44.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $139.65 on Friday. The firm has a 50-day simple moving average of $144.83 and a 200-day simple moving average of $165.44. The stock has a market capitalization of $24.44 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. Constellation Brands Inc has a 52 week low of $131.20 and a 52 week high of $245.31.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The business had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. On average, equities analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

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.