Manatuck Hill Partners LLC Acquires New Shares in Constellation Brands Inc $STZ

Manatuck Hill Partners LLC acquired a new position in shares of Constellation Brands Inc (NYSE:STZ) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,000 shares of the company’s stock, valued at approximately $690,000.

A number of other large investors also recently modified their holdings of the business. Nordea Investment Management AB lifted its position in Constellation Brands by 6.1% during the fourth quarter. Nordea Investment Management AB now owns 867,776 shares of the company’s stock worth $120,300,000 after acquiring an additional 49,625 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its position in Constellation Brands by 36.1% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 48,062 shares of the company’s stock worth $6,631,000 after acquiring an additional 12,746 shares during the last quarter. Vanguard Group Inc. lifted its position in Constellation Brands by 3.3% during the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock worth $2,451,346,000 after acquiring an additional 573,766 shares during the last quarter. ICICI Prudential Asset Management Co Ltd lifted its position in Constellation Brands by 22.1% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 60,700 shares of the company’s stock worth $8,174,000 after acquiring an additional 11,000 shares during the last quarter. Finally, HighTower Advisors LLC lifted its position in Constellation Brands by 20.0% during the third quarter. HighTower Advisors LLC now owns 153,110 shares of the company’s stock worth $20,620,000 after acquiring an additional 25,565 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of analyst reports. Piper Sandler lifted their price target on shares of Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. JPMorgan Chase & Co. lifted their price target on shares of Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Evercore set a $175.00 price target on shares of Constellation Brands and gave the company an “outperform” rating in a research report on Friday, April 10th. Finally, TD Cowen upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and lifted their price target for the company from $142.00 to $190.00 in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.68.

Constellation Brands Stock Down 3.7%

Shares of STZ opened at $138.79 on Thursday. The firm has a 50 day simple moving average of $149.38 and a two-hundred day simple moving average of $150.14. The company has a market cap of $23.90 billion, a P/E ratio of 14.47, a P/E/G ratio of 3.38 and a beta of 0.39. Constellation Brands Inc has a one year low of $126.45 and a one year high of $178.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business earned $2.63 earnings per share. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. Research analysts forecast that Constellation Brands Inc will post 11.87 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were issued a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.0%. Constellation Brands’s dividend payout ratio (DPR) 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.