Natixis Investment Managers International reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 31.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,480 shares of the company’s stock after selling 1,145 shares during the quarter. Natixis Investment Managers International’s holdings in Constellation Brands were worth $580,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in STZ. Covington Capital Management increased its position in Constellation Brands by 5.4% during the second quarter. Covington Capital Management now owns 48,857 shares of the company’s stock worth $11,427,000 after buying an additional 2,485 shares during the last quarter. Toroso Investments LLC bought a new position in shares of Constellation Brands in the second quarter valued at approximately $487,000. Brown Brothers Harriman & Co. increased its holdings in shares of Constellation Brands by 16.2% in the second quarter. Brown Brothers Harriman & Co. now owns 694 shares of the company’s stock valued at $162,000 after purchasing an additional 97 shares in the last quarter. Wambolt & Associates LLC increased its holdings in shares of Constellation Brands by 25.2% in the second quarter. Wambolt & Associates LLC now owns 4,908 shares of the company’s stock valued at $1,139,000 after purchasing an additional 988 shares in the last quarter. Finally, Lincoln National Corp grew its holdings in Constellation Brands by 7.1% during the 2nd quarter. Lincoln National Corp now owns 2,214 shares of the company’s stock worth $518,000 after acquiring an additional 147 shares during the period. Institutional investors own 70.41% of the company’s stock.
Several brokerages have commented on STZ. BMO Capital Markets boosted their price target on shares of Constellation Brands from $223.00 to $242.00 and gave the stock a “hold” rating in a research report on Thursday, July 1st. Morgan Stanley decreased their target price on shares of Constellation Brands from $266.00 to $254.00 and set an “overweight” rating on the stock in a research report on Thursday, October 7th. UBS Group increased their price objective on shares of Constellation Brands from $264.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, October 7th. HSBC raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $262.00 price objective for the company in a research note on Wednesday. Finally, Truist Securities dropped their price target on shares of Constellation Brands from $240.00 to $213.00 and set a “hold” rating for the company in a research note on Monday, October 4th. Ten analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $255.76.
Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Tuesday, October 5th. The company reported $2.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.78 by ($0.40). The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.30 billion. Constellation Brands had a return on equity of 14.99% and a net margin of 13.47%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.76 earnings per share. On average, equities analysts predict that Constellation Brands, Inc. will post 10.04 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 19th. Stockholders of record on Friday, November 5th will be issued a $0.76 dividend. The ex-dividend date is Thursday, November 4th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.38%. Constellation Brands’s payout ratio is 9.33%.
Constellation Brands Profile
Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.
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