Voloridge Investment Management LLC Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Voloridge Investment Management LLC purchased a new position in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 174,033 shares of the company's stock, valued at approximately $38,461,000. Voloridge Investment Management LLC owned 0.10% of Constellation Brands at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STZ. Merit Financial Group LLC grew its stake in Constellation Brands by 132.9% in the 4th quarter. Merit Financial Group LLC now owns 2,271 shares of the company's stock valued at $502,000 after acquiring an additional 1,296 shares during the period. Arkadios Wealth Advisors grew its stake in Constellation Brands by 7.1% in the 4th quarter. Arkadios Wealth Advisors now owns 2,530 shares of the company's stock valued at $559,000 after acquiring an additional 167 shares during the period. Ameritas Advisory Services LLC grew its stake in Constellation Brands by 2.3% in the 4th quarter. Ameritas Advisory Services LLC now owns 5,928 shares of the company's stock valued at $1,310,000 after acquiring an additional 134 shares during the period. Ballentine Partners LLC grew its stake in Constellation Brands by 12.8% in the 4th quarter. Ballentine Partners LLC now owns 2,891 shares of the company's stock valued at $639,000 after acquiring an additional 327 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Constellation Brands by 9.9% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 214,264 shares of the company's stock valued at $47,352,000 after acquiring an additional 19,266 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STZ. Roth Mkm lowered their target price on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their target price on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. BMO Capital Markets lowered their target price 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. Royal Bank of Canada lowered their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Finally, Barclays lifted their target price on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an "overweight" rating in a research note on Monday, April 14th. Ten analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.74.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $0.82 during trading hours on Tuesday, hitting $185.24. 307,063 shares of the company were exchanged, compared to its average volume of 2,492,534. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average of $184.77 and a 200-day moving average of $196.98. The stock has a market capitalization of $32.98 billion, a price-to-earnings ratio of 49.79, a P/E/G ratio of 1.52 and a beta of 1.75.

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

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a $1.02 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.20%. Constellation Brands's dividend payout ratio is presently -800.00%.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 12.19% of the stock is currently owned by company insiders.

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.