DAVENPORT & Co LLC Reduces Stock Position in Constellation Brands Inc $STZ

DAVENPORT & Co LLC decreased its position in Constellation Brands Inc (NYSE:STZ) by 95.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,363 shares of the company’s stock after selling 211,014 shares during the period. DAVENPORT & Co LLC’s holdings in Constellation Brands were worth $1,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Berkshire Hathaway Inc grew its holdings in shares of Constellation Brands by 11.6% during the second quarter. Berkshire Hathaway Inc now owns 13,400,000 shares of the company’s stock worth $2,179,912,000 after buying an additional 1,391,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Constellation Brands by 13.6% during the second quarter. Geode Capital Management LLC now owns 3,737,860 shares of the company’s stock valued at $605,293,000 after buying an additional 448,259 shares during the period. Grantham Mayo Van Otterloo & Co. LLC boosted its position in Constellation Brands by 39.6% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,675,855 shares of the company’s stock worth $597,988,000 after acquiring an additional 1,042,904 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Constellation Brands by 2.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,969,081 shares of the company’s stock worth $320,329,000 after acquiring an additional 46,959 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Constellation Brands by 650.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock worth $287,889,000 after acquiring an additional 1,533,961 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

STZ stock opened at $139.43 on Monday. The stock has a 50-day moving average price of $136.19 and a two-hundred day moving average price of $149.79. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $228.89. 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 company has a market cap of $24.41 billion, a PE ratio of 20.35, a price-to-earnings-growth 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 EPS for the quarter. The company had revenue of $2.32 billion for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. As a group, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, October 30th were issued a $1.02 dividend. 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 (DPR) is presently 59.56%.

Analyst Ratings Changes

A number of brokerages have weighed in on STZ. Morgan Stanley reduced their price target on 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. Wells Fargo & Company dropped their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. JPMorgan Chase & Co. assumed coverage on Constellation Brands in a research report on Friday, November 7th. They set a “neutral” rating and a $153.00 target price on the stock. BNP Paribas Exane lowered Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price target on the stock. in a research note on Wednesday, September 3rd. Finally, Citigroup dropped their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research note on Tuesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.