Fort Washington Investment Advisors Inc. OH Raises Position in Constellation Brands Inc $STZ

Fort Washington Investment Advisors Inc. OH raised its position in Constellation Brands Inc (NYSE:STZ) by 8.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 245,359 shares of the company’s stock after acquiring an additional 19,800 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Constellation Brands were worth $33,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Abound Wealth Management boosted its stake in shares of Constellation Brands by 341.8% in the third quarter. Abound Wealth Management now owns 243 shares of the company’s stock worth $33,000 after acquiring an additional 188 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Constellation Brands in the 1st quarter valued at $39,000. Hoey Investments Inc. purchased a new position in Constellation Brands in the 2nd quarter valued at $40,000. Curio Wealth LLC lifted its holdings in Constellation Brands by 29,900.0% in 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 in the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Constellation Brands during the 2nd quarter worth $49,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Constellation Brands from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Jefferies Financial Group dropped their price objective on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $180.00 price objective on shares of Constellation Brands in a report on Wednesday, October 8th. Barclays decreased their target price on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Finally, Morgan Stanley dropped their price target on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $181.96.

Constellation Brands Stock Performance

Constellation Brands stock opened at $138.49 on Tuesday. The firm has a 50 day simple moving average of $136.14 and a 200-day simple moving average of $149.57. The stock has a market cap of $24.24 billion, a price-to-earnings ratio of 20.22, a price-to-earnings-growth ratio of 0.42 and a beta of 0.46. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $228.89.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The firm had revenue of $2.32 billion for the quarter. On average, analysts expect that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio is 59.56%.

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.