Constellation Brands Inc $STZ Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 93.8% in the 3rd quarter, Holdings Channel reports. The fund owned 5,192 shares of the company’s stock after selling 78,464 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Constellation Brands were worth $699,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STZ. Flaharty Asset Management LLC acquired a new position in Constellation Brands during the first quarter worth $39,000. Hoey Investments Inc. purchased a new position in shares of Constellation Brands during the 2nd quarter worth $40,000. WPG Advisers LLC acquired a new position in shares of Constellation Brands during the 1st quarter valued at about $43,000. Curio Wealth LLC boosted its position in shares of Constellation Brands by 29,900.0% during the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock valued at $49,000 after acquiring an additional 299 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Constellation Brands in the second quarter valued at about $49,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. Morgan Stanley dropped their price target 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. Jefferies Financial Group decreased their price objective on Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. Sanford C. Bernstein lowered their price objective on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. TD Cowen decreased their price target on Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a research note on Thursday, September 4th. Finally, Roth Capital reiterated a “buy” rating and set a $209.00 price target (down from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $181.96.

Constellation Brands Stock Up 0.4%

STZ stock opened at $139.75 on Friday. The company’s 50 day moving average price is $136.21 and its 200 day moving average price is $150.30. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $228.89. The firm has a market capitalization 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 (NYSE:STZ) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The business had revenue of $2.32 billion during the quarter. On average, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio is presently 59.56%.

Constellation Brands Profile

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.