IBM Retirement Fund Sells 554 Shares of Constellation Brands, Inc. Class A (STZ)

Share on StockTwits

IBM Retirement Fund decreased its holdings in Constellation Brands, Inc. Class A (NYSE:STZ) by 13.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,423 shares of the company’s stock after selling 554 shares during the quarter. IBM Retirement Fund’s holdings in Constellation Brands, Inc. Class A were worth $749,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of STZ. Wells Fargo & Company MN grew its position in Constellation Brands, Inc. Class A by 18.5% in the first quarter. Wells Fargo & Company MN now owns 1,841,385 shares of the company’s stock worth $419,689,000 after buying an additional 287,676 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Constellation Brands, Inc. Class A by 14.5% in the first quarter. Daiwa Securities Group Inc. now owns 5,874 shares of the company’s stock worth $1,339,000 after buying an additional 746 shares during the last quarter. Alps Advisors Inc. grew its position in Constellation Brands, Inc. Class A by 11.5% in the first quarter. Alps Advisors Inc. now owns 2,564 shares of the company’s stock worth $584,000 after buying an additional 264 shares during the last quarter. Atria Investments LLC grew its position in Constellation Brands, Inc. Class A by 70.8% in the first quarter. Atria Investments LLC now owns 2,722 shares of the company’s stock worth $620,000 after buying an additional 1,128 shares during the last quarter. Finally, Mackay Shields LLC acquired a new position in Constellation Brands, Inc. Class A in the first quarter worth approximately $9,328,000. Hedge funds and other institutional investors own 73.52% of the company’s stock.

Several research analysts have issued reports on STZ shares. Cann decreased their price target on shares of Constellation Brands, Inc. Class A from $234.00 to $226.00 and set a “buy” rating on the stock in a research report on Thursday, August 16th. Deutsche Bank decreased their price objective on shares of Constellation Brands, Inc. Class A from $234.00 to $226.00 and set a “buy” rating for the company in a research note on Thursday, August 16th. OTR Global lowered shares of Constellation Brands, Inc. Class A to a “positive” rating in a research note on Friday, June 15th. Morgan Stanley decreased their price objective on shares of Constellation Brands, Inc. Class A from $262.00 to $258.00 and set a “buy” rating for the company in a research note on Tuesday, July 3rd. Finally, Stifel Nicolaus raised their price objective on shares of Constellation Brands, Inc. Class A from $228.00 to $230.00 and gave the stock a “hold” rating in a research note on Thursday, May 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $245.48.

Shares of NYSE:STZ opened at $208.62 on Friday. The firm has a market cap of $40.10 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 1.97 and a beta of 0.03. Constellation Brands, Inc. Class A has a 12-month low of $197.32 and a 12-month high of $236.62. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.81 and a quick ratio of 0.77.

Constellation Brands, Inc. Class A (NYSE:STZ) last issued its earnings results on Friday, June 29th. The company reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.22). The company had revenue of $2.05 billion for the quarter, compared to analyst estimates of $2.05 billion. Constellation Brands, Inc. Class A had a net margin of 31.51% and a return on equity of 19.81%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $2.34 EPS. equities analysts forecast that Constellation Brands, Inc. Class A will post 9.4 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Friday, August 10th were paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Thursday, August 9th. Constellation Brands, Inc. Class A’s dividend payout ratio (DPR) is currently 33.94%.

Constellation Brands, Inc. Class A Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

Further Reading: Fundamental Analysis and Individual Investors

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. Class A (NYSE:STZ).

Institutional Ownership by Quarter for Constellation Brands, Inc. Class A (NYSE:STZ)

Receive News & Ratings for Constellation Brands Inc. Class A Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands Inc. Class A and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply