Man Group plc Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Man Group plc lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 562.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,066 shares of the company’s stock after buying an additional 35,719 shares during the period. Man Group plc’s holdings in Constellation Brands were worth $9,297,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of STZ. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands in the 4th quarter valued at $1,242,976,000. Norges Bank purchased a new position in Constellation Brands during the 4th quarter worth $445,883,000. Vanguard Group Inc. grew its position in Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. D1 Capital Partners L.P. grew its position in Constellation Brands by 186.6% during 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 last quarter. Finally, Van ECK Associates Corp grew its position in Constellation Brands by 1,844.7% during the 4th 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 during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 2.7%

Shares of NYSE STZ opened at $195.75 on Monday. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $265.70. The company has a market capitalization of $34.85 billion, a PE ratio of 52.62, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm’s 50-day moving average is $184.10 and its two-hundred day moving average is $198.97.

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

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is currently -800.00%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Roth Mkm lowered their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Barclays raised their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Citigroup lowered their price objective on shares of Constellation Brands from $200.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. BMO Capital Markets lowered their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Finally, Needham & Company LLC restated a “buy” rating and issued a $215.00 target price on shares of Constellation Brands in a research note on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.74.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares of the company’s stock, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 12.19% 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 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.