Tidal Investments LLC Raises Stake in Constellation Brands, Inc. (NYSE:STZ)

Tidal Investments LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 81.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,466 shares of the company’s stock after purchasing an additional 6,926 shares during the quarter. Tidal Investments LLC’s holdings in Constellation Brands were worth $3,418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands in the 4th quarter worth approximately $1,242,976,000. Norges Bank purchased a new position in Constellation Brands during the fourth quarter valued at $445,883,000. Vanguard Group Inc. boosted its holdings in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. grew its stake in shares of Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after acquiring an additional 994,639 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $185.84 on Thursday. The business’s fifty day moving average is $184.53 and its 200 day moving average is $198.54. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The company has a market capitalization of $33.08 billion, a PE ratio of 49.96, a price-to-earnings-growth 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, topping 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 during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the prior year, the firm posted $2.26 EPS. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.20%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio is currently -800.00%.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares of the company’s stock, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $203.00 to $194.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Truist Financial raised Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Wednesday, May 7th. BMO Capital Markets reduced their price objective on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Royal Bank of Canada lowered their target price on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Finally, Roth Mkm reduced their price target on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating for the company in a research note on Thursday, April 3rd. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average price target of $225.74.

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.