OLD Republic International Corp Increases Holdings in Constellation Brands Inc $STZ

OLD Republic International Corp lifted its position in shares of Constellation Brands Inc (NYSE:STZ) by 76.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,500 shares of the company’s stock after acquiring an additional 84,000 shares during the quarter. OLD Republic International Corp’s holdings in Constellation Brands were worth $26,695,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Coldstream Capital Management Inc. raised its position in shares of Constellation Brands by 47.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 3,636 shares of the company’s stock worth $502,000 after purchasing an additional 1,162 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $14,639,000. LSV Asset Management raised its position in shares of Constellation Brands by 102.0% during the 4th quarter. LSV Asset Management now owns 495,180 shares of the company’s stock worth $68,315,000 after purchasing an additional 250,000 shares during the last quarter. RD Lewis Holdings Inc. acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $202,000. Finally, Pzena Investment Management LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth approximately $81,381,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.9%

Shares of STZ opened at $149.50 on Friday. The stock has a fifty day moving average of $152.73 and a two-hundred day moving average of $148.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The company has a market capitalization of $25.74 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 3.28 and a beta of 0.43. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $186.40.

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 the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands’s revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.63 EPS. As a group, analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a $1.03 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 2.8%. Constellation Brands’s payout ratio is presently 42.96%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STZ. Royal Bank Of Canada restated an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a research report on Friday, April 10th. Citigroup restated a “buy” rating on shares of Constellation Brands in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price objective on Constellation Brands from $155.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. Wells Fargo & Company lifted their price objective on Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Finally, Roth Mkm restated a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. 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 assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $175.37.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president directly owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.45% of the company’s stock.

About Constellation Brands

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.