Constellation Brands Inc $STZ Holdings Lifted by RNC Capital Management LLC

RNC Capital Management LLC grew its position in Constellation Brands Inc (NYSE:STZ) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,561 shares of the company’s stock after purchasing an additional 77 shares during the period. RNC Capital Management LLC’s holdings in Constellation Brands were worth $2,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 18.6% in 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 lifted 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 worth $822,314,000 after acquiring an additional 2,514,517 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Constellation Brands by 7.8% during 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 during the last quarter. Dimensional Fund Advisors LP lifted its stake in Constellation Brands by 4.7% during 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. Finally, Northern Trust Corp lifted its stake in Constellation Brands by 1.2% during the first quarter. Northern Trust Corp now owns 1,534,357 shares of the company’s stock valued at $281,585,000 after purchasing an additional 17,832 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on STZ. Deutsche Bank Aktiengesellschaft cut their target price on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research note on Wednesday, September 3rd. BMO Capital Markets cut their target price on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Morgan Stanley cut their target price on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Needham & Company LLC reissued a “buy” rating and set a $180.00 target price on shares of Constellation Brands in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Constellation Brands in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $186.44.

Constellation Brands Stock Down 0.9%

STZ stock opened at $140.27 on Thursday. Constellation Brands Inc has a 52-week low of $131.20 and a 52-week high of $245.31. The company’s 50 day simple moving average is $146.00 and its 200-day simple moving average is $165.88. 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 firm has a market capitalization of $24.55 billion, a P/E ratio of 20.48, a P/E/G ratio of 0.42 and a beta of 0.66.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a $1.02 dividend. 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 is currently 59.56%.

About Constellation Brands

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.