3,487 Shares in Constellation Brands, Inc. (NYSE:STZ) Purchased by MQS Management LLC

MQS Management LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 3,487 shares of the company’s stock, valued at approximately $899,000. Constellation Brands makes up 0.5% of MQS Management LLC’s holdings, making the stock its 24th largest position.

A number of other hedge funds have also made changes to their positions in the company. Empowered Funds LLC grew its position in shares of Constellation Brands by 71.0% in the first quarter. Empowered Funds LLC now owns 3,316 shares of the company’s stock valued at $901,000 after purchasing an additional 1,377 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Constellation Brands in the 1st quarter valued at $242,000. QRG Capital Management Inc. increased its stake in shares of Constellation Brands by 12.4% in the 1st quarter. QRG Capital Management Inc. now owns 3,265 shares of the company’s stock worth $887,000 after acquiring an additional 360 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Constellation Brands by 14.3% during the 1st quarter. Russell Investments Group Ltd. now owns 58,814 shares of the company’s stock worth $15,986,000 after acquiring an additional 7,343 shares during the period. Finally, Bleakley Financial Group LLC boosted its position in shares of Constellation Brands by 5.7% during the 1st quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company’s stock valued at $780,000 after acquiring an additional 154 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of STZ opened at $238.29 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The stock has a 50 day moving average price of $244.61 and a 200 day moving average price of $248.35. The company has a market capitalization of $43.26 billion, a price-to-earnings ratio of 77.12, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same period last year, the business earned $3.70 EPS. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,210 shares of company stock worth $31,040,994 in the last quarter. 12.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on STZ shares. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Morgan Stanley cut their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Finally, TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and decreased their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

About Constellation Brands

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.