Constellation Brands Inc $STZ Shares Bought by Empyrean Capital Partners LP

Empyrean Capital Partners LP raised its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 30.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 586,700 shares of the company’s stock after buying an additional 135,700 shares during the quarter. Constellation Brands accounts for about 2.8% of Empyrean Capital Partners LP’s portfolio, making the stock its 9th biggest holding. Empyrean Capital Partners LP’s holdings in Constellation Brands were worth $80,941,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Stance Capital LLC acquired a new position in shares of Constellation Brands during the third quarter worth approximately $26,000. GoalVest Advisory LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth approximately $28,000. Elyxium Wealth LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth approximately $33,000. GW&K Investment Management LLC lifted its holdings in shares of Constellation Brands by 58.9% during the fourth quarter. GW&K Investment Management LLC now owns 267 shares of the company’s stock worth $37,000 after buying an additional 99 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth approximately $39,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $138.79 on Thursday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The business has a fifty day simple moving average of $149.38 and a 200 day simple moving average of $150.14. Constellation Brands Inc has a one year low of $126.45 and a one year high of $178.13. The firm has a market capitalization of $23.90 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 3.38 and a beta of 0.39.

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

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a dividend of $1.03 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date was Wednesday, April 29th. Constellation Brands’s dividend payout ratio is currently 42.96%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup restated a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. Royal Bank Of Canada restated an “outperform” rating and issued a $185.00 target price on shares of Constellation Brands in a research note on Friday, April 10th. JPMorgan Chase & Co. upped their target price on Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. UBS Group cut their target price on Constellation Brands from $186.00 to $175.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Needham & Company LLC upped their target price on Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average price target of $174.68.

Constellation Brands 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.