Manatuck Hill Partners LLC Purchases Shares of 5,000 Constellation Brands Inc $STZ

Manatuck Hill Partners LLC purchased a new position in shares of Constellation Brands Inc (NYSE:STZ) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,000 shares of the company’s stock, valued at approximately $690,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of Constellation Brands by 48.5% during the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after buying an additional 2,105,546 shares during the last quarter. Norges Bank acquired a new stake in Constellation Brands in the 4th quarter valued at about $267,798,000. Ameriprise Financial Inc. lifted its holdings in Constellation Brands by 650.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after purchasing an additional 1,533,961 shares in the last quarter. Pzena Investment Management LLC purchased a new position in shares of Constellation Brands during the 4th quarter worth about $81,381,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 3.3% during the 3rd 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 period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $138.79 on Thursday. The company’s 50-day moving average price is $149.38 and its two-hundred day moving average price is $150.14. The stock has a market cap of $23.90 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 3.38 and a beta of 0.39. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week 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 results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.84 billion. During the same quarter last year, the business posted $2.63 EPS. Constellation Brands’s revenue was down 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 11.87 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a dividend of $1.03 per share. 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%. The ex-dividend date was Wednesday, April 29th. Constellation Brands’s dividend payout ratio is presently 42.96%.

Analyst Ratings Changes

Several research firms recently commented on STZ. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a report on Wednesday, April 1st. Roth Mkm reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. Needham & Company LLC raised their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Piper Sandler raised their target price on Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.68.

Insider Transactions at Constellation Brands

In other 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 sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 12.20% of the stock is owned by corporate insiders.

Constellation Brands Profile

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.