Blue Zone Wealth Advisors LLC Reduces Stock Holdings in Constellation Brands Inc $STZ

Blue Zone Wealth Advisors LLC trimmed its holdings in Constellation Brands Inc (NYSE:STZ) by 71.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 6,786 shares of the company’s stock after selling 16,607 shares during the quarter. Blue Zone Wealth Advisors LLC’s holdings in Constellation Brands were worth $914,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Abound Wealth Management boosted its holdings in Constellation Brands by 341.8% during the 3rd quarter. Abound Wealth Management now owns 243 shares of the company’s stock valued at $33,000 after acquiring an additional 188 shares during the period. Flaharty Asset Management LLC purchased a new position in Constellation Brands in the 1st quarter valued at approximately $39,000. Hoey Investments Inc. acquired a new position in shares of Constellation Brands in the second quarter worth $40,000. WPG Advisers LLC purchased a new stake in shares of Constellation Brands during the first quarter worth $43,000. Finally, Curio Wealth LLC boosted its stake in shares of Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock valued at $49,000 after buying an additional 299 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.4%

Shares of NYSE:STZ opened at $139.75 on Friday. 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 cap of $24.46 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 0.42 and a beta of 0.46. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $228.89. The stock’s 50-day moving average price is $136.21 and its two-hundred day moving average price is $150.30.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The company 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%. On average, research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were paid a dividend of $1.02 per share. The ex-dividend date was Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands’s dividend payout ratio is currently 59.56%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price objective on Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Morgan Stanley dropped their price objective on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 7th. TD Cowen reduced their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a research note on Thursday, September 4th. JPMorgan Chase & Co. initiated coverage on Constellation Brands in a report on Friday, November 7th. They issued a “neutral” rating and a $153.00 target price for the company. Finally, Sanford C. Bernstein decreased their target price on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $181.96.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.