Berkshire Hathaway Inc Invests $1.24 Billion in Constellation Brands, Inc. (NYSE:STZ)

Berkshire Hathaway Inc purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 5,624,324 shares of the company’s stock, valued at approximately $1,242,976,000. Constellation Brands comprises about 0.5% of Berkshire Hathaway Inc’s investment portfolio, making the stock its 19th biggest position. Berkshire Hathaway Inc owned about 3.11% of Constellation Brands at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. BLI Banque de Luxembourg Investments acquired a new stake in shares of Constellation Brands during the fourth quarter worth $46,412,000. Alpha Family Trust acquired a new position in Constellation Brands during the fourth quarter worth about $332,000. Aptus Capital Advisors LLC grew its holdings in shares of Constellation Brands by 57.6% in the 4th quarter. Aptus Capital Advisors LLC now owns 1,965 shares of the company’s stock worth $434,000 after acquiring an additional 718 shares during the period. AXA S.A. increased its position in shares of Constellation Brands by 266.5% in the fourth quarter. AXA S.A. now owns 13,551 shares of the company’s stock valued at $2,995,000 after buying an additional 9,854 shares in the last quarter. Finally, 4WEALTH Advisors Inc. purchased a new position in Constellation Brands during the 4th quarter valued at about $521,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $215.00 target price on shares of Constellation Brands in a research note on Thursday, April 10th. Truist Financial reduced their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. TD Cowen decreased their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup lowered their price target on shares of Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $224.42.

Constellation Brands Stock Performance

STZ stock opened at $187.05 on Friday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The stock has a market capitalization of $33.81 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 1.52 and a beta of 1.75. 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 stock’s fifty day moving average is $181.96 and its two-hundred day moving average is $202.65.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating 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 firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same period last year, the firm posted $2.26 EPS. Constellation Brands’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is -800.00%.

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.