Dimensional Fund Advisors LP reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 0.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 730,875 shares of the company’s stock after selling 6,013 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.40% of Constellation Brands worth $179,901,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Smithfield Trust Co raised its holdings in Constellation Brands by 4.7% during the 2nd quarter. Smithfield Trust Co now owns 823 shares of the company’s stock valued at $205,000 after buying an additional 37 shares during the last quarter. Copperwynd Financial LLC increased its position in Constellation Brands by 1.3% during the 2nd quarter. Copperwynd Financial LLC now owns 2,855 shares of the company’s stock valued at $703,000 after purchasing an additional 38 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Constellation Brands by 0.5% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 8,636 shares of the company’s stock valued at $2,125,000 after purchasing an additional 41 shares during the period. Lindbrook Capital LLC increased its position in Constellation Brands by 24.0% during the 2nd quarter. Lindbrook Capital LLC now owns 217 shares of the company’s stock valued at $53,000 after purchasing an additional 42 shares during the period. Finally, Tranquility Partners LLC increased its position in Constellation Brands by 1.0% during the 2nd quarter. Tranquility Partners LLC now owns 4,427 shares of the company’s stock valued at $1,090,000 after purchasing an additional 44 shares during the period. 88.99% of the stock is currently owned by institutional investors.
Constellation Brands Stock Performance
Shares of Constellation Brands stock opened at $235.63 on Friday. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 1.89 and a beta of 1.05. The firm’s 50-day moving average is $243.40 and its 200 day moving average is $248.07. Constellation Brands, Inc. has a 1 year low of $208.12 and a 1 year high of $273.65. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.20 and a quick ratio of 0.57.
Constellation Brands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Friday, November 3rd were paid a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend was Thursday, November 2nd. Constellation Brands’s dividend payout ratio is currently 43.36%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on STZ. Wells Fargo & Company boosted their price objective on shares of Constellation Brands from $280.00 to $285.00 and gave the company an “overweight” rating in a research report on Tuesday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Constellation Brands from $241.00 to $243.00 and gave the company a “hold” rating in a research report on Wednesday, September 20th. JPMorgan Chase & Co. boosted their price objective on shares of Constellation Brands from $307.00 to $309.00 and gave the company an “overweight” rating in a research report on Friday, October 6th. Roth Mkm reaffirmed a “buy” rating and issued a $311.00 target price on shares of Constellation Brands in a research report on Friday, October 6th. Finally, Wedbush upped their target price on shares of Constellation Brands from $275.00 to $300.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $277.38.
Insider Buying and Selling at Constellation Brands
In other Constellation Brands news, major shareholder Family Foundation Sands sold 136,362 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $242.27, for a total transaction of $33,036,421.74. Following the transaction, the insider now owns 681,792 shares in the company, valued at approximately $165,177,747.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 16.19% of the company’s stock.
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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