Havemeyer Place LP Acquires New Shares in Constellation Brands Inc $STZ

Havemeyer Place LP bought a new position in Constellation Brands Inc (NYSE:STZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,822 shares of the company’s stock, valued at approximately $665,000.

Several other hedge funds have also recently modified their holdings of STZ. Oppenheimer Asset Management Inc. boosted its holdings in shares of Constellation Brands by 329.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 73,323 shares of the company’s stock valued at $9,874,000 after acquiring an additional 56,263 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Constellation Brands by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 867,776 shares of the company’s stock valued at $120,300,000 after purchasing an additional 49,625 shares during the last quarter. LSV Asset Management bought a new position in Constellation Brands during the third quarter valued at approximately $33,018,000. Caprock Group LLC bought a new position in Constellation Brands during the third quarter valued at approximately $1,451,000. Finally, Hudson Edge Investment Partners Inc. boosted its holdings in Constellation Brands by 36.1% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 48,062 shares of the company’s stock worth $6,631,000 after purchasing an additional 12,746 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research reports. Morgan Stanley boosted their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. JPMorgan Chase & Co. raised their price target on Constellation Brands from $155.00 to $163.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 1st. Roth Mkm reiterated a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft increased their target price on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a report on Friday, April 10th. Finally, Bank of America dropped their target price on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.26.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 12.45% of the stock is currently owned by insiders.

Constellation Brands Stock Down 0.0%

STZ opened at $140.87 on Tuesday. The firm’s 50 day simple moving average is $150.50 and its two-hundred day simple moving average is $149.61. The company has a market capitalization of $24.26 billion, a PE ratio of 14.69, a PEG ratio of 3.26 and a beta of 0.39. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $178.13. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The firm had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.63 EPS. As a group, equities analysts forecast that Constellation Brands Inc will post 11.87 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a dividend of $1.03 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s dividend payout ratio is presently 42.96%.

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.