FORA Capital LLC Purchases 24,647 Shares of Constellation Brands, Inc. (NYSE:STZ)

FORA Capital LLC raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 130.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 43,576 shares of the company’s stock after buying an additional 24,647 shares during the quarter. Constellation Brands comprises 1.1% of FORA Capital LLC’s portfolio, making the stock its 16th largest holding. FORA Capital LLC’s holdings in Constellation Brands were worth $9,630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Allworth Financial LP raised its position in Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after purchasing an additional 59 shares in the last quarter. BSW Wealth Partners lifted its stake in shares of Constellation Brands by 4.2% during the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after buying an additional 63 shares during the period. Philip James Wealth Mangement LLC lifted its holdings in shares of Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock worth $204,000 after purchasing an additional 68 shares during the period. Oak Asset Management LLC lifted its stake in Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock valued at $3,892,000 after acquiring an additional 71 shares during the period. Finally, Barden Capital Management Inc. raised its stake in shares of Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company’s stock valued at $1,232,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $189.67 on Thursday. 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 current ratio of 1.10 and a quick ratio of 0.46. The business has a 50 day moving average price of $182.70 and a 200 day moving average price of $201.82. The company has a market capitalization of $33.76 billion, a P/E ratio of 50.99, a PEG ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is presently -800.00%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on STZ shares. UBS Group cut their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Barclays upped their price target on Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Wells Fargo & Company reduced their target price on shares of Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Roth Capital lowered their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus price target of $225.74.

Constellation Brands 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.