Intact Investment Management Inc. Sells 7,000 Shares of Constellation Brands Inc $STZ

Intact Investment Management Inc. reduced its stake in shares of Constellation Brands Inc (NYSE:STZ) by 31.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,100 shares of the company’s stock after selling 7,000 shares during the period. Intact Investment Management Inc.’s holdings in Constellation Brands were worth $2,456,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of STZ. Gilbert & Cook Inc. lifted its stake in Constellation Brands by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 2,385 shares of the company’s stock valued at $388,000 after purchasing an additional 60 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Constellation Brands by 3.8% in the second quarter. V Square Quantitative Management LLC now owns 1,682 shares of the company’s stock valued at $274,000 after buying an additional 62 shares during the period. Oak Asset Management LLC raised its stake in shares of Constellation Brands by 0.4% in the second quarter. Oak Asset Management LLC now owns 18,281 shares of the company’s stock valued at $2,974,000 after buying an additional 70 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of Constellation Brands by 9.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 813 shares of the company’s stock valued at $149,000 after buying an additional 73 shares during the last quarter. Finally, RNC Capital Management LLC grew its stake in shares of Constellation Brands by 0.6% during the 2nd quarter. RNC Capital Management LLC now owns 13,561 shares of the company’s stock worth $2,206,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on STZ. Deutsche Bank Aktiengesellschaft lowered their price objective on Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Roth Capital reissued a “buy” rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a research report on Wednesday, September 3rd. Wells Fargo & Company dropped their price target on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Bank of America reduced their price objective on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a research note on Wednesday, September 3rd. Finally, The Goldman Sachs Group lowered their target price 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 assigned a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $181.88.

Constellation Brands Stock Performance

Constellation Brands stock opened at $148.39 on Thursday. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $244.69. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $25.97 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 0.43 and a beta of 0.46. The firm’s 50 day simple moving average is $136.13 and its 200 day simple moving average is $152.91.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The firm 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%. As a group, analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s dividend payout ratio is currently 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.