Oliver Luxxe Assets LLC Has $2.02 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Oliver Luxxe Assets LLC increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,567 shares of the company’s stock after buying an additional 694 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Constellation Brands were worth $2,016,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliancebernstein L.P. raised its stake in Constellation Brands by 714.0% in the 3rd quarter. Alliancebernstein L.P. now owns 1,941,395 shares of the company’s stock valued at $409,032,000 after acquiring an additional 1,702,889 shares during the period. Amundi acquired a new stake in shares of Constellation Brands during the 2nd quarter worth $180,482,000. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth $132,244,000. HS Management Partners LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth $131,154,000. Finally, Nuveen Asset Management LLC boosted its stake in Constellation Brands by 40.7% in the second quarter. Nuveen Asset Management LLC now owns 1,356,889 shares of the company’s stock valued at $317,363,000 after buying an additional 392,318 shares in the last quarter. 69.16% of the stock is owned by institutional investors.

Shares of NYSE:STZ traded up $1.61 during mid-day trading on Friday, hitting $248.64. 798,291 shares of the company traded hands, compared to its average volume of 1,023,496. The company has a quick ratio of 0.83, a current ratio of 1.50 and a debt-to-equity ratio of 0.87. Constellation Brands, Inc. has a 12-month low of $207.35 and a 12-month high of $258.00. The stock has a 50-day moving average price of $237.93 and a two-hundred day moving average price of $225.23.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, January 6th. The company reported $3.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $0.36. Constellation Brands had a positive return on equity of 15.03% and a negative net margin of 0.56%. The business had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the firm earned $3.09 earnings per share. The business’s revenue was down 4.8% on a year-over-year basis. On average, sell-side analysts forecast that Constellation Brands, Inc. will post 10.11 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 23rd. Shareholders of record on Wednesday, February 9th will be given a $0.76 dividend. The ex-dividend date is Tuesday, February 8th. This represents a $3.04 annualized dividend and a yield of 1.22%. Constellation Brands’s dividend payout ratio is currently -1,013.33%.

A number of brokerages have recently issued reports on STZ. Deutsche Bank Aktiengesellschaft raised their price objective on Constellation Brands from $238.00 to $240.00 and gave the stock a “hold” rating in a research report on Monday, January 3rd. JPMorgan Chase & Co. raised their price objective on Constellation Brands from $275.00 to $283.00 and gave the stock an “overweight” rating in a research report on Monday, January 3rd. Credit Suisse Group raised their price objective on Constellation Brands from $280.00 to $285.00 and gave the stock an “outperform” rating in a research report on Friday, January 7th. Morgan Stanley lifted their target price on Constellation Brands from $254.00 to $303.00 and gave the stock an “overweight” rating in a report on Monday, January 3rd. Finally, Jefferies Financial Group lifted their target price on Constellation Brands from $305.00 to $316.00 in a report on Monday, January 3rd. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has a consensus rating of “Buy” and a consensus target price of $269.70.

Constellation Brands Profile

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.

Recommended Story: Cost of Goods Sold (COGS)

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

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.