MUFG Securities EMEA plc Boosts Stake in Constellation Brands Inc $STZ

MUFG Securities EMEA plc increased its position in Constellation Brands Inc (NYSE:STZ) by 1,966.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,479 shares of the company’s stock after buying an additional 53,746 shares during the period. MUFG Securities EMEA plc’s holdings in Constellation Brands were worth $7,792,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in STZ. Brighton Jones LLC lifted its position in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after buying an additional 187 shares in the last quarter. Woodline Partners LP purchased a new stake in shares of Constellation Brands in the first quarter worth about $2,409,000. Cary Street Partners Financial LLC lifted its position in shares of Constellation Brands by 69.9% in the second quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock worth $167,000 after buying an additional 422 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock worth $2,822,000 after buying an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after buying an additional 1,127 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 0.0%

Shares of NYSE STZ opened at $138.78 on Monday. 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 business’s 50 day moving average price is $152.10 and its 200-day moving average price is $149.28. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $180.41. The company has a market cap of $23.90 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 3.21 and a beta of 0.39.

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, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $2.63 earnings per share. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, sell-side analysts expect that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders 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 dividend yield of 3.0%. Constellation Brands’s dividend payout ratio (DPR) is currently 42.96%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction that occurred 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 sale, the executive vice president directly owned 9,109 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 12.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on STZ shares. Piper Sandler upped their price objective on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, April 10th. TD Cowen upgraded Constellation Brands from a “hold” rating to a “buy” rating and upped their price objective for the company from $142.00 to $190.00 in a research report on Monday, April 13th. Morgan Stanley upped their price objective on Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Evercore set a $175.00 price objective on Constellation Brands and gave the company an “outperform” rating in a research report on Friday, April 10th. Finally, Wells Fargo & Company upped their price objective on Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, April 10th. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.26.

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.