Shorepoint Capital Partners LLC Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

Shorepoint Capital Partners LLC grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,522 shares of the company’s stock after purchasing an additional 902 shares during the period. Shorepoint Capital Partners LLC’s holdings in Constellation Brands were worth $2,988,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in Constellation Brands during the fourth quarter valued at $445,883,000. Vanguard Group Inc. grew its position in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares during the period. D1 Capital Partners L.P. raised its holdings in Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after purchasing an additional 994,639 shares during the period. Van ECK Associates Corp boosted its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its holdings in Constellation Brands by 42.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock valued at $542,391,000 after purchasing an additional 736,780 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 1.1 %

Shares of NYSE:STZ opened at $185.36 on Friday. The stock has a 50-day simple moving average of $180.88 and a 200-day simple moving average of $204.60. The stock has a market capitalization of $33.50 billion, a P/E ratio of 49.83, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the company posted $2.26 earnings per share. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be issued a $1.02 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is -800.00%.

Wall Street Analyst Weigh In

STZ has been the subject of several recent analyst reports. The Goldman Sachs Group cut their price target on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating for the company in a report on Friday, April 11th. Evercore ISI decreased their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Roth Capital cut their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Barclays raised their target price on Constellation Brands from $203.00 to $207.00 and gave the company an “overweight” rating in a research report on Monday, April 14th. Finally, TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $224.42.

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 Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.