Matrix Asset Advisors Inc. NY Acquires New Stake in Constellation Brands Inc $STZ

Matrix Asset Advisors Inc. NY bought a new position in shares of Constellation Brands Inc (NYSE:STZ) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 38,878 shares of the company’s stock, valued at approximately $5,236,000.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC lifted its stake in Constellation Brands by 350.7% in the second quarter. AlphaQuest LLC now owns 5,178 shares of the company’s stock valued at $842,000 after buying an additional 4,029 shares during the period. Arlington Partners LLC acquired a new stake in Constellation Brands in the second quarter valued at approximately $2,333,000. 49 Wealth Management LLC bought a new stake in shares of Constellation Brands during the second quarter valued at approximately $373,000. Heritage Investors Management Corp raised its position in shares of Constellation Brands by 6.2% during the second quarter. Heritage Investors Management Corp now owns 146,827 shares of the company’s stock worth $23,886,000 after purchasing an additional 8,613 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Constellation Brands by 969.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock worth $13,609,000 after purchasing an additional 75,834 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.3%

NYSE:STZ opened at $134.96 on Monday. The firm’s 50 day moving average is $136.23 and its 200 day moving average is $150.88. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $229.07. The stock has a market capitalization of $23.62 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.46. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (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 for the quarter. Sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio is presently 59.56%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on STZ shares. TD Cowen decreased their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a research report on Thursday, September 4th. Sanford C. Bernstein cut their price target on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. UBS Group set a $160.00 target price on Constellation Brands in a report on Tuesday, October 7th. Citigroup decreased their price target on Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a report on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. initiated coverage on Constellation Brands in a research note on Friday, November 7th. They set a “neutral” rating and a $153.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently 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.