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Investment firm cuts holdings in beer maker Constellation Brands, but its stock target rises and it boosts dividend.
Investment firm Lee Danner & Bass Inc. decreased its holdings in Constellation Brands by 8.3% in the first quarter.
Despite missing earnings per share (EPS) expectations by $0.23, Constellation Brands, known for brands like Corona, is projected to post 13.5 EPS for the year.
The company's price target was raised by Citigroup to $174.00, and it recently declared a quarterly dividend of $1.02 per share.
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La firma de inversión recorta sus participaciones en el fabricante de cerveza Constellation Brands, pero su objetivo de acciones sube y aumenta el dividendo.