Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Syon Capital LLC

Syon Capital LLC increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 31.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,925 shares of the company’s stock after acquiring an additional 456 shares during the period. Syon Capital LLC’s holdings in Constellation Brands were worth $465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Impact Partnership Wealth LLC lifted its stake in Constellation Brands by 1,175.0% in the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares during the last quarter. BKM Wealth Management LLC purchased a new position in Constellation Brands in the fourth quarter worth $28,000. Asset Dedication LLC increased its holdings in shares of Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after purchasing an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in Constellation Brands during the third quarter worth $41,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Corporate insiders own 16.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price for the company in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped their target price on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Piper Sandler assumed coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price on the stock. HSBC upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, Evercore ISI lifted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $298.55.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $260.04 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 1 year low of $221.81 and a 1 year high of $274.87. The firm’s 50-day simple moving average is $259.80 and its 200-day simple moving average is $247.94. The firm has a market cap of $47.54 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same period last year, the business posted $1.98 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. Equities analysts forecast that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.55%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 37.95%.

About Constellation Brands

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