Canada Pension Plan Investment Board Acquires 3,256 Shares of Constellation Brands, Inc. (NYSE:STZ)

Canada Pension Plan Investment Board grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 326,877 shares of the company’s stock after purchasing an additional 3,256 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Constellation Brands were worth $72,240,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Van ECK Associates Corp boosted its holdings in Constellation Brands by 1,844.7% in 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 in the last quarter. Copperleaf Capital LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $343,000. Grimes & Company Inc. acquired a new position in shares of Constellation Brands during the 4th quarter valued at about $6,099,000. Empowered Funds LLC increased its holdings in shares of Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after acquiring an additional 6,391 shares during the last quarter. Finally, Southern Style Financial Inc. bought a new position in shares of Constellation Brands in the 4th quarter valued at approximately $3,074,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Up 1.9 %

STZ opened at $186.58 on Friday. The company has a market capitalization of $33.72 billion, a P/E ratio of 50.16, a P/E/G ratio of 1.52 and a beta of 1.75. 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 firm’s fifty day moving average price is $178.56 and its two-hundred day moving average price is $206.89. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70.

Constellation Brands (NYSE:STZ) last issued its earnings results 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 business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business earned $2.26 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. On average, analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s dividend payout ratio is currently -800.00%.

Analysts Set New Price Targets

Several equities analysts have commented on STZ shares. Roth Mkm lowered their price target on Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada lowered their target price on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Needham & Company LLC reissued a “buy” rating and set a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, BMO Capital Markets dropped their price objective on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has an average rating of “Hold” and an average target price of $224.42.

About Constellation Brands

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.