Adage Capital Partners GP L.L.C. Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Adage Capital Partners GP L.L.C. increased its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 145,867 shares of the company's stock after buying an additional 18,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.08% of Constellation Brands worth $32,237,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after buying an additional 59 shares in the last quarter. BSW Wealth Partners increased its stake in shares of Constellation Brands by 4.2% during the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock worth $345,000 after purchasing an additional 63 shares during the last quarter. Philip James Wealth Mangement LLC raised its holdings in shares of Constellation Brands by 8.0% in the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after purchasing an additional 68 shares during the period. Oak Asset Management LLC raised its stake in Constellation Brands by 0.4% in the fourth quarter. Oak Asset Management LLC now owns 17,611 shares of the company's stock valued at $3,892,000 after buying an additional 71 shares during the period. Finally, Barden Capital Management Inc. boosted its position in Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of NYSE:STZ traded up $0.61 during midday trading on Wednesday, reaching $186.89. 235,680 shares of the company traded hands, compared to its average volume of 1,708,682. The firm's fifty day moving average price is $181.43 and its two-hundred day moving average price is $203.85. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70. The firm has a market capitalization of $33.78 billion, a price-to-earnings ratio of 50.24, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.26 EPS. On average, equities analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.18%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Analysts Set New Price Targets

A number of brokerages recently commented on STZ. BMO Capital Markets decreased their price target on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. UBS Group dropped their price target on Constellation Brands from $265.00 to $223.00 and set a "buy" rating for the company in a report on Friday, January 17th. TD Cowen dropped their target price on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Evercore ISI decreased their price target on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. Finally, Truist Financial cut their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of "Hold" and an average price target of $224.42.

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.