CNB Bank Sells 273 Shares of Constellation Brands Inc $STZ

CNB Bank reduced its position in Constellation Brands Inc (NYSE:STZ) by 36.5% in the 2nd quarter, Holdings Channel reports. The firm owned 474 shares of the company’s stock after selling 273 shares during the quarter. CNB Bank’s holdings in Constellation Brands were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of STZ. Vanguard Group Inc. raised its position in Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Constellation Brands by 127.9% in the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after buying an additional 2,514,517 shares in the last quarter. Nuveen LLC acquired a new position in shares of Constellation Brands in the 1st quarter worth approximately $63,377,000. Nordea Investment Management AB lifted its position in shares of Constellation Brands by 47.6% during the 2nd quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock worth $98,538,000 after buying an additional 195,784 shares during the period. Finally, DAVENPORT & Co LLC boosted its stake in Constellation Brands by 1,594.0% in the 1st quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company’s stock valued at $38,132,000 after buying an additional 195,397 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.0%

Shares of STZ opened at $139.65 on Friday. The stock’s fifty day simple moving average is $144.83 and its 200-day simple moving average is $165.41. The firm has a market capitalization of $24.44 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $245.31. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The firm had revenue of $2.32 billion during the quarter. As a group, research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s dividend payout ratio is currently 59.56%.

Analysts Set New Price Targets

A number of research analysts have issued reports on STZ shares. Barclays cut their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a report on Thursday, October 9th. Citigroup reduced their price target on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 23rd. UBS Group set a $160.00 price objective on shares of Constellation Brands in a report on Tuesday, October 7th. The Goldman Sachs Group cut their target price on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Finally, TD Cowen decreased their target price on Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Constellation Brands presently has an average rating of “Hold” and a consensus target price of $186.44.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.