Ninety One North America Inc. Reduces Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Ninety One North America Inc. decreased its stake in Constellation Brands, Inc. (NYSE:STZ) by 20.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,762 shares of the company’s stock after selling 2,498 shares during the quarter. Ninety One North America Inc.’s holdings in Constellation Brands were worth $2,283,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in shares of Constellation Brands by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 2,444,208 shares of the company’s stock worth $555,501,000 after purchasing an additional 55,021 shares during the period. American Century Companies Inc. boosted its holdings in shares of Constellation Brands by 1.8% in the 2nd quarter. American Century Companies Inc. now owns 1,662,985 shares of the company’s stock worth $388,955,000 after purchasing an additional 29,552 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Constellation Brands by 4.0% in the 1st quarter. Franklin Resources Inc. now owns 1,659,252 shares of the company’s stock worth $378,309,000 after purchasing an additional 63,644 shares during the period. Royal Bank of Canada boosted its holdings in shares of Constellation Brands by 32.2% in the 1st quarter. Royal Bank of Canada now owns 1,251,904 shares of the company’s stock worth $285,433,000 after purchasing an additional 304,690 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Constellation Brands by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,248,322 shares of the company’s stock worth $291,971,000 after purchasing an additional 4,858 shares during the period. Hedge funds and other institutional investors own 70.41% of the company’s stock.

STZ opened at $212.62 on Monday. The firm has a market cap of $40.84 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 3.52 and a beta of 1.19. The company has a current ratio of 1.61, a quick ratio of 0.94 and a debt-to-equity ratio of 0.79. Constellation Brands, Inc. has a 12 month low of $160.63 and a 12 month high of $244.75. The stock has a fifty day moving average price of $216.69 and a 200-day moving average price of $227.47.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, June 29th. The company reported $2.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.35 by ($0.02). Constellation Brands had a return on equity of 14.99% and a net margin of 13.47%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Constellation Brands, Inc. will post 10.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Investors of record on Tuesday, August 10th were paid a dividend of $0.76 per share. The ex-dividend date was Monday, August 9th. This represents a $3.04 annualized dividend and a yield of 1.43%. Constellation Brands’s dividend payout ratio (DPR) is 30.49%.

A number of equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Constellation Brands from $242.00 to $234.00 and set a “hold” rating for the company in a research note on Monday. BMO Capital Markets raised their price target on Constellation Brands from $223.00 to $242.00 and gave the stock a “hold” rating in a research note on Thursday, July 1st. Jefferies Financial Group raised their price target on Constellation Brands from $295.00 to $298.00 and gave the stock a “buy” rating in a research note on Monday, June 28th. TheStreet lowered Constellation Brands from a “b-” rating to a “c+” rating in a research note on Tuesday, July 13th. Finally, Barclays decreased their price target on Constellation Brands from $266.00 to $260.00 and set an “overweight” rating for the company in a research note on Thursday, September 16th. Nine analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $257.04.

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.

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

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