M&T Bank Corp cut its stake in Constellation Brands Inc. (NYSE:STZ) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,220 shares of the company’s stock after selling 476 shares during the period. M&T Bank Corp’s holdings in Constellation Brands were worth $4,532,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of STZ. Egerton Capital UK LLP acquired a new stake in shares of Constellation Brands during the second quarter valued at $305,544,000. Lone Pine Capital LLC increased its position in shares of Constellation Brands by 13.1% in the second quarter. Lone Pine Capital LLC now owns 6,666,012 shares of the company’s stock valued at $1,102,558,000 after buying an additional 769,791 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Constellation Brands during the second quarter valued at about $75,993,000. Jennison Associates LLC increased its position in shares of Constellation Brands by 21.7% in the second quarter. Jennison Associates LLC now owns 2,158,744 shares of the company’s stock valued at $357,056,000 after buying an additional 384,492 shares in the last quarter. Finally, Eminence Capital LP purchased a new position in shares of Constellation Brands during the second quarter valued at about $61,779,000. Institutional investors and hedge funds own 73.53% of the company’s stock.

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

Constellation Brands Inc. (NYSE:STZ) traded down 0.30% on Tuesday, hitting $155.80. 1,338,109 shares of the stock traded hands. The stock has a 50-day moving average price of $162.05 and a 200 day moving average price of $162.03. The company has a market cap of $31.33 billion, a price-to-earnings ratio of 26.81 and a beta of 0.59. Constellation Brands Inc. has a 1-year low of $130.23 and a 1-year high of $173.55.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.12. Constellation Brands had a net margin of 15.64% and a return on equity of 17.69%. The company had revenue of $2.02 billion for the quarter. During the same quarter in the previous year, the business posted $1.56 earnings per share. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, analysts anticipate that Constellation Brands Inc. will post $6.45 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 22nd. Stockholders of record on Tuesday, November 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.03%. Constellation Brands’s payout ratio is currently 27.49%.

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Several equities analysts recently issued reports on STZ shares. Susquehanna reissued a “hold” rating on shares of Constellation Brands in a report on Monday, August 8th. reissued an “outperform” rating on shares of Constellation Brands in a report on Monday, August 22nd. Zacks Investment Research downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Morgan Stanley reissued a “buy” rating on shares of Constellation Brands in a report on Thursday, September 15th. Finally, Credit Suisse Group AG started coverage on shares of Constellation Brands in a report on Thursday, September 15th. They set a “neutral” rating and a $178.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Constellation Brands presently has an average rating of “Buy” and an average price target of $178.30.

Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

5 Day Chart for NYSE:STZ

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