DoubleLine ETF Adviser LP Has $1.96 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

DoubleLine ETF Adviser LP grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,878 shares of the company’s stock after acquiring an additional 229 shares during the quarter. DoubleLine ETF Adviser LP’s holdings in Constellation Brands were worth $1,962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in STZ. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the 4th quarter worth $26,000. Compagnie Lombard Odier SCmA acquired a new stake in Constellation Brands in the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands in the fourth quarter valued at about $28,000. Finally, Optiver Holding B.V. acquired a new position in Constellation Brands during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $185.33 on Friday. The business has a 50 day simple moving average of $181.79 and a 200-day simple moving average of $203.32. The firm has a market capitalization of $33.50 billion, a PE ratio of 49.82, a price-to-earnings-growth 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. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.26 EPS. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.20%. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is presently -800.00%.

Analyst Ratings Changes

Several research firms have recently weighed in on STZ. UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Morgan Stanley dropped their price target 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. Roth Capital lowered their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company reduced their price target on Constellation Brands from $230.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets lowered their price objective on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently 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.