Constellation Brands Inc $STZ Holdings Cut by Confluence Investment Management LLC

Confluence Investment Management LLC trimmed its position in Constellation Brands Inc (NYSE:STZ) by 4.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,797 shares of the company’s stock after selling 7,769 shares during the period. Confluence Investment Management LLC owned 0.09% of Constellation Brands worth $17,162,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors boosted its stake in Constellation Brands by 8.3% during the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock valued at $998,740,000 after buying an additional 553,974 shares during the period. Capital International Investors raised its holdings in shares of Constellation Brands by 48.5% in the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock valued at $888,930,000 after acquiring an additional 2,105,546 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Constellation Brands by 11.0% during the 4th quarter. Van ECK Associates Corp now owns 2,397,275 shares of the company’s stock valued at $330,728,000 after acquiring an additional 237,073 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Constellation Brands by 5.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,826,652 shares of the company’s stock worth $274,029,000 after purchasing an additional 88,538 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Constellation Brands during the fourth quarter worth about $267,798,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.2%

NYSE:STZ traded up $0.17 during trading hours on Thursday, reaching $113.23. The company’s stock had a trading volume of 469,650 shares, compared to its average volume of 2,213,986. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.48 and a current ratio of 0.91. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 2.24 and a beta of 0.41. The firm has a 50-day simple moving average of $127.63 and a 200-day simple moving average of $139.70. Constellation Brands Inc has a 1 year low of $111.54 and a 1 year high of $168.60.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.27). The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.22 earnings per share. Research analysts expect that Constellation Brands Inc will post 11.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America lowered their target price on shares of Constellation Brands from $152.00 to $145.00 and set an “underperform” rating on the stock in a research note on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $150.00 to $136.00 and set a “hold” rating on the stock in a report on Friday, September 11th. Roth Capital reaffirmed a “buy” rating and set a $209.00 price objective on shares of Constellation Brands in a report on Thursday, July 2nd. UBS Group reduced their target price on Constellation Brands from $168.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, September 23rd. Finally, Needham & Company LLC restated a “buy” rating and set a $185.00 price target on shares of Constellation Brands in a research report on Thursday, July 2nd. Twelve investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $159.33.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation’s products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.