Constellation Brands Inc $STZ Shares Acquired by Coerente Capital Management

Coerente Capital Management increased its holdings in Constellation Brands Inc (NYSE:STZ) by 42.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,715 shares of the company’s stock after buying an additional 32,729 shares during the quarter. Constellation Brands comprises 3.1% of Coerente Capital Management’s portfolio, making the stock its 18th largest holding. Coerente Capital Management’s holdings in Constellation Brands were worth $16,457,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. MV Capital Management Inc. acquired a new position in Constellation Brands during the 4th quarter worth $26,000. Stance Capital LLC bought a new position in shares of Constellation Brands in the third quarter worth $26,000. Strive Financial Group LLC bought a new position in shares of Constellation Brands in the fourth quarter worth $27,000. GoalVest Advisory LLC acquired a new position in shares of Constellation Brands during the fourth quarter valued at $28,000. Finally, Elyxium Wealth LLC acquired a new position in shares of Constellation Brands during the fourth quarter valued at $33,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

STZ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research note on Wednesday, April 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of 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 increased their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 10th. Finally, Piper Sandler raised their price objective on shares of Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” 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 issued a Sell rating to the stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.53.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were 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 directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.20% of the stock is currently owned by corporate insiders.

Constellation Brands Price Performance

NYSE:STZ opened at $143.58 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The business’s 50-day moving average price is $148.07 and its 200 day moving average price is $150.27. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $178.13. The firm has a market cap of $24.72 billion, a P/E ratio of 14.97, a PEG ratio of 4.15 and a beta of 0.39.

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

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Wednesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is presently 42.96%.

Constellation Brands Company 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.