Rings Capital Management LLC Makes New $828,000 Investment in Constellation Brands Inc $STZ

Rings Capital Management LLC bought a new stake in Constellation Brands Inc (NYSE:STZ) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,000 shares of the company’s stock, valued at approximately $828,000. Constellation Brands makes up approximately 0.4% of Rings Capital Management LLC’s investment portfolio, making the stock its 7th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital International Investors increased its stake in shares of Constellation Brands by 48.5% in the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after buying an additional 2,105,546 shares during the last quarter. Norges Bank bought a new position in Constellation Brands during the 4th quarter valued at $267,798,000. Ameriprise Financial Inc. boosted its stake in Constellation Brands by 650.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after acquiring an additional 1,533,961 shares during the last quarter. Pzena Investment Management LLC acquired a new position in Constellation Brands during the 4th quarter worth $81,381,000. Finally, Vanguard Group Inc. grew its holdings in Constellation Brands by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 573,766 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president directly owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.20% of the company’s stock.

Constellation Brands Trading Down 2.6%

Constellation Brands stock opened at $144.26 on Wednesday. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.13. The firm’s 50-day moving average is $149.71 and its 200-day moving average is $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 company has a market cap of $24.84 billion, a P/E ratio of 15.04, a PEG ratio of 3.48 and a beta of 0.39.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.63 EPS. On average, equities analysts expect that Constellation Brands Inc will post 11.87 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s dividend payout ratio is currently 42.96%.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of recent analyst reports. Roth Mkm restated a “buy” rating on shares of Constellation Brands in a research note on Thursday, April 9th. Piper Sandler lifted their price target on Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Bank of America lowered their price objective on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a report on Thursday, May 28th. JPMorgan Chase & Co. upped their price objective on Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Finally, Needham & Company LLC increased their target price on Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.26.

Constellation Brands Company 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.