Pinnacle Associates Ltd. Has $740,000 Position in Constellation Brands Inc $STZ

Pinnacle Associates Ltd. lessened its position in shares of Constellation Brands Inc (NYSE:STZ) by 32.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 4,548 shares of the company’s stock after selling 2,221 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Constellation Brands were worth $740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Zions Bancorporation National Association UT acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $38,000. Flaharty Asset Management LLC acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $39,000. Hoey Investments Inc. acquired a new stake in Constellation Brands during the 2nd quarter valued at approximately $40,000. WPG Advisers LLC acquired a new stake in Constellation Brands during the 1st quarter valued at approximately $43,000. Finally, Curio Wealth LLC increased its position in 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 purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $130.73 on Tuesday. The company has a fifty day simple moving average of $140.82 and a 200 day simple moving average of $162.92. Constellation Brands Inc has a 12-month low of $127.00 and a 12-month high of $245.31. 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 $22.88 billion, a P/E ratio of 19.09, a PEG ratio of 0.39 and a beta of 1.75.

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

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 3.1%. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on STZ. BNP Paribas downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. Cowen reaffirmed a “hold” rating on shares of Constellation Brands in a research report on Monday, July 7th. BMO Capital Markets reduced their price objective on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating for the company in a research report on Thursday, September 4th. Citigroup reduced 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 report on Tuesday, September 23rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. One equities research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.