Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Man Group plc

Man Group plc raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 562.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 42,066 shares of the company’s stock after purchasing an additional 35,719 shares during the quarter. Man Group plc’s holdings in Constellation Brands were worth $9,297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp increased its position in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Copperleaf Capital LLC purchased a new stake in Constellation Brands during the fourth quarter worth approximately $343,000. Grimes & Company Inc. purchased a new stake in Constellation Brands during the fourth quarter worth approximately $6,099,000. Empowered Funds LLC grew its stake in Constellation Brands by 62.8% during the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after buying an additional 6,391 shares during the period. Finally, Southern Style Financial Inc. purchased a new stake in Constellation Brands during the fourth quarter worth approximately $3,074,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 2.7%

NYSE STZ opened at $195.75 on Monday. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market capitalization of $34.85 billion, a price-to-earnings ratio of 52.62, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company’s fifty day moving average price is $184.10 and its two-hundred day moving average price is $198.97.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $2.26 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.08%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands’s dividend payout ratio is -800.00%.

Insider Buying and Selling at Constellation Brands

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

Analyst Ratings Changes

Several equities research analysts have issued reports on STZ shares. Citigroup decreased their price objective on shares of Constellation Brands from $200.00 to $190.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. StockNews.com upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, May 8th. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research note on Wednesday, May 7th. Morgan Stanley decreased their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, April 11th. Finally, Barclays boosted their price objective on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.74.

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.