Delta Global Management LP lessened its stake in Constellation Brands Inc (NYSE:STZ – Free Report) by 58.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,248 shares of the company’s stock after selling 10,247 shares during the quarter. Delta Global Management LP’s holdings in Constellation Brands were worth $1,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Constellation Brands by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock worth $2,451,346,000 after purchasing an additional 573,766 shares during the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 8.3% in the 4th quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock worth $998,740,000 after purchasing an additional 553,974 shares during the last quarter. State Street Corp raised its position in shares of Constellation Brands by 5.0% in the 4th quarter. State Street Corp now owns 6,911,369 shares of the company’s stock worth $953,492,000 after purchasing an additional 329,337 shares during the last quarter. Capital International Investors raised its position in shares of Constellation Brands by 48.5% in the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after purchasing an additional 2,105,546 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Constellation Brands by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company’s stock worth $513,871,000 after purchasing an additional 54,184 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on STZ. Wells Fargo & Company lifted their price target on Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. JPMorgan Chase & Co. boosted their target price on Constellation Brands from $155.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Piper Sandler boosted their target price on Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $185.00 target price on shares of Constellation Brands in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $175.26.
Insider Activity
In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.20% of the stock is currently owned by corporate insiders.
Constellation Brands Price Performance
Shares of NYSE:STZ opened at $144.26 on Wednesday. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $178.13. The business has a 50-day simple moving average of $149.71 and a two-hundred day simple moving average of $150.12. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 3.48 and a beta of 0.39.
Constellation Brands (NYSE:STZ – Get Free Report) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.63 EPS. On average, analysts expect that Constellation Brands Inc will post 11.87 earnings per share for the current year.
Constellation Brands Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a dividend of $1.03 per share. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio is presently 42.96%.
Constellation Brands Profile
Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.
The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.
Featured Articles
- Five stocks we like better than Constellation Brands
- Gravity Check: Houston, SpaceX Has a Valuation Problem
- Strategy’s Bitcoin Rally Has a Hidden Engine
- Okta’s AI Moment May Be Bigger Than Investors Realize
- 3 Rate-Ready Stocks for the New Fed Chair’s First Big Test
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 (NYSE:STZ – Free Report).
Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.
