QS Investors LLC trimmed its position in Constellation Brands, Inc. (NYSE:STZ) by 39.2% in the second quarter, Holdings Channel reports. The fund owned 11,720 shares of the company’s stock after selling 7,554 shares during the quarter. QS Investors LLC’s holdings in Constellation Brands were worth $2,742,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 12,580,105 shares of the company’s stock valued at $2,942,360,000 after acquiring an additional 34,131 shares during the last quarter. Geode Capital Management LLC raised its position in Constellation Brands by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,496,198 shares of the company’s stock worth $581,892,000 after purchasing an additional 51,990 shares during the last quarter. American Century Companies Inc. raised its position in Constellation Brands by 1.8% during the 2nd quarter. American Century Companies Inc. now owns 1,662,985 shares of the company’s stock worth $388,955,000 after purchasing an additional 29,552 shares during the last quarter. Franklin Resources Inc. raised its position in Constellation Brands by 4.0% during the 1st quarter. Franklin Resources Inc. now owns 1,659,252 shares of the company’s stock worth $378,309,000 after purchasing an additional 63,644 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Constellation Brands by 32.2% during the 1st quarter. Royal Bank of Canada now owns 1,251,904 shares of the company’s stock worth $285,433,000 after purchasing an additional 304,690 shares during the last quarter. Institutional investors own 70.41% of the company’s stock.
STZ stock opened at $219.13 on Thursday. The company has a market capitalization of $42.09 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 3.52 and a beta of 1.19. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.94 and a current ratio of 1.61. Constellation Brands, Inc. has a 52-week low of $160.63 and a 52-week high of $244.75. The business has a 50-day simple moving average of $214.25 and a two-hundred day simple moving average of $225.99.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 19th. Shareholders of record on Friday, November 5th will be given a dividend of $0.76 per share. The ex-dividend date is Thursday, November 4th. This represents a $3.04 annualized dividend and a dividend yield of 1.39%. Constellation Brands’s dividend payout ratio is currently 9.33%.
STZ has been the subject of several analyst reports. Credit Suisse Group raised their target price on Constellation Brands from $275.00 to $280.00 and gave the stock an “outperform” rating in a research report on Thursday, October 7th. Citigroup lowered their target price on Constellation Brands from $257.00 to $239.00 and set a “neutral” rating for the company in a research report on Thursday, October 7th. MKM Partners reissued a “hold” rating and issued a $226.00 price objective on shares of Constellation Brands in a research report on Thursday, October 7th. HSBC raised Constellation Brands from a “hold” rating to a “buy” rating and set a $262.00 price objective for the company in a research report on Wednesday. Finally, Barclays lowered their price objective on Constellation Brands from $260.00 to $257.00 and set an “overweight” rating for the company in a research report on Friday, October 8th. Ten research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $255.76.
About Constellation Brands
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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