Virtu Financial LLC Lowers Position in Constellation Brands Inc $STZ

Virtu Financial LLC reduced its position in shares of Constellation Brands Inc (NYSE:STZ) by 38.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,751 shares of the company’s stock after selling 9,851 shares during the period. Virtu Financial LLC’s holdings in Constellation Brands were worth $2,173,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $26,000. Framtiden Holdings Management Co LLC acquired a new position in Constellation Brands during the fourth quarter worth $17,797,000. Kovitz Investment Group Partners LLC raised its position in Constellation Brands by 682.6% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 18,321 shares of the company’s stock worth $2,528,000 after acquiring an additional 15,980 shares in the last quarter. Compound Planning Inc. acquired a new stake in Constellation Brands in the fourth quarter valued at $226,000. Finally, Invesco Ltd. boosted its holdings in Constellation Brands by 18.2% during the fourth quarter. Invesco Ltd. now owns 1,725,825 shares of the company’s stock worth $238,095,000 after buying an additional 265,555 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.0%

STZ opened at $141.25 on Friday. The firm has a market cap of $24.32 billion, a P/E ratio of 14.73, a PEG ratio of 3.32 and a beta of 0.39. The business’s fifty day simple moving average is $148.95 and its 200 day simple moving average is $150.12. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.13. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.63 EPS. As a group, equities research analysts anticipate that Constellation Brands Inc will post 11.84 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a $1.03 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is 42.96%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was 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 this link. 12.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

STZ has been the topic of several research analyst reports. Citigroup reissued a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Constellation Brands from $154.00 to $155.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Needham & Company LLC boosted their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Friday, April 10th. Finally, Wells Fargo & Company increased their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.68.

About Constellation Brands

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.