Cherokee Insurance Co Invests $683,000 in Constellation Brands Inc $STZ

Cherokee Insurance Co bought a new position in shares of Constellation Brands Inc (NYSE:STZ) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,200 shares of the company’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. Wellington Management Group LLP lifted its stake in Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after purchasing an additional 2,514,517 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Constellation Brands by 13.6% in the second quarter. Geode Capital Management LLC now owns 3,737,860 shares of the company’s stock valued at $605,293,000 after purchasing an additional 448,259 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Constellation Brands by 7.8% in the first 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 in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Constellation Brands by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company’s stock valued at $310,851,000 after purchasing an additional 76,186 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STZ has been the subject of several research analyst reports. Jefferies Financial Group lowered their target price on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Sanford C. Bernstein decreased their price objective on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. The Goldman Sachs Group cut their target price on Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a research report on Thursday, October 2nd. BNP Paribas downgraded Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 3rd. Finally, Zacks Research upgraded Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. One 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 company. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Hold” and an average price target of $186.44.

Constellation Brands Stock Performance

Shares of STZ stock opened at $130.43 on Thursday. The stock’s 50-day moving average price is $136.95 and its 200 day moving average price is $160.27. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $22.83 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $245.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The company had revenue of $2.32 billion during the quarter. As a group, equities research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current 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 $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is 59.56%.

Constellation Brands Company 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.