Simon Quick Advisors LLC Makes New Investment in Constellation Brands Inc $STZ

Simon Quick Advisors LLC acquired a new position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,566 shares of the company’s stock, valued at approximately $255,000.

A number of other hedge funds have also recently added to or reduced their stakes in STZ. Vanguard Group Inc. increased its stake in Constellation Brands by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the period. Wellington Management Group LLP increased its stake in shares of Constellation Brands by 127.9% in the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after purchasing an additional 2,514,517 shares during the last quarter. Nuveen LLC bought a new position in shares of Constellation Brands in the 1st quarter valued at $63,377,000. Nordea Investment Management AB increased its stake in shares of Constellation Brands by 47.6% in the 2nd quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock valued at $98,538,000 after purchasing an additional 195,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Constellation Brands by 7.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock valued at $352,748,000 after purchasing an additional 139,158 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STZ shares. Jefferies Financial Group decreased their price target on Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a research note on Wednesday, September 3rd. Morgan Stanley decreased their price target on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. Raymond James Financial upgraded Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. Roth Capital reiterated a “buy” rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. Finally, Sanford C. Bernstein decreased their price target on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $186.44.

Constellation Brands Trading Down 0.5%

Shares of STZ stock opened at $130.73 on Tuesday. The firm has a market capitalization of $22.88 billion, a P/E ratio of 19.09, a P/E/G ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a twelve month low of $127.00 and a twelve month high of $245.31. The stock’s fifty day simple moving average is $140.82 and its 200 day simple moving average is $162.92. 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 (NYSE:STZ) last released its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 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. As a group, sell-side analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s payout ratio is 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.