Burney Co. Sells 1,161 Shares of Constellation Brands Inc $STZ

Burney Co. decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 8.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,261 shares of the company’s stock after selling 1,161 shares during the quarter. Burney Co.’s holdings in Constellation Brands were worth $2,157,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of STZ. Arlington Partners LLC purchased a new stake in Constellation Brands during the second quarter worth $2,333,000. AlphaQuest LLC lifted its holdings in Constellation Brands by 350.7% during the second quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock worth $842,000 after buying an additional 4,029 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Constellation Brands by 969.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after buying an additional 75,834 shares during the period. Wesbanco Bank Inc. lifted its holdings in Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock worth $7,049,000 after buying an additional 4,204 shares during the period. Finally, Glenview Trust co lifted its holdings in Constellation Brands by 6.8% during the first quarter. Glenview Trust co now owns 69,427 shares of the company’s stock worth $12,741,000 after buying an additional 4,421 shares during the period. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $130.73 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The business’s 50 day simple moving average is $140.82 and its two-hundred day simple moving average is $162.92. The stock has a market capitalization of $22.88 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a one year low of $127.00 and a one year high of $245.31.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The firm had revenue of $2.32 billion for the quarter. Analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 3.1%. Constellation Brands’s payout ratio is 59.56%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $180.00 target price on shares of Constellation Brands in a report on Wednesday, October 8th. Morgan Stanley decreased their price objective on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday, October 7th. BNP Paribas lowered Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Jefferies Financial Group decreased their price objective on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. decreased their price objective on Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat, Constellation Brands presently has a consensus rating of “Hold” and a consensus 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.