Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by TOMS Capital Investment Management LP

TOMS Capital Investment Management LP lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 24.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 447,000 shares of the company’s stock after buying an additional 89,000 shares during the quarter. Constellation Brands makes up about 4.5% of TOMS Capital Investment Management LP’s holdings, making the stock its 8th largest position. TOMS Capital Investment Management LP’s holdings in Constellation Brands were worth $108,062,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Morgan Stanley raised its stake in Constellation Brands by 1.5% in the 3rd quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after purchasing an additional 58,518 shares during the last quarter. Capital Research Global Investors raised its stake in Constellation Brands by 12.9% in the 4th quarter. Capital Research Global Investors now owns 2,247,617 shares of the company’s stock valued at $543,361,000 after purchasing an additional 256,738 shares during the last quarter. Norges Bank acquired a new position in Constellation Brands in the 4th quarter valued at about $443,844,000. Northern Trust Corp raised its stake in Constellation Brands by 3.7% in the 3rd quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock valued at $376,752,000 after purchasing an additional 53,862 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Constellation Brands by 38.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after purchasing an additional 388,390 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,031 shares of company stock valued at $12,582,321. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 0.3 %

NYSE STZ traded down $0.65 on Tuesday, reaching $251.03. The company had a trading volume of 1,058,808 shares, compared to its average volume of 1,192,787. The firm has a market capitalization of $45.93 billion, a PE ratio of 26.76, a P/E/G ratio of 1.69 and a beta of 0.89. Constellation Brands, Inc. has a 1 year low of $227.50 and a 1 year high of $274.87. The firm has a 50-day moving average of $256.08 and a 200-day moving average of $251.78. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.98 EPS. On average, equities research analysts anticipate that Constellation Brands, Inc. will post 13.54 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were given a dividend of $1.01 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 43.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on STZ shares. UBS Group boosted their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Barclays cut their target price on shares of Constellation Brands from $295.00 to $288.00 and set an “overweight” rating for the company in a research note on Wednesday, May 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, May 28th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. Finally, Piper Sandler initiated coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $298.20.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.