Coerente Capital Management Increases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Coerente Capital Management grew its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 18.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,400 shares of the company's stock after acquiring an additional 17,064 shares during the period. Constellation Brands comprises 3.8% of Coerente Capital Management's holdings, making the stock its 14th biggest position. Coerente Capital Management owned about 0.06% of Constellation Brands worth $19,710,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in STZ. Berkshire Hathaway Inc purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $1,242,976,000. Norges Bank purchased a new stake in shares of Constellation Brands in the 4th quarter valued at $445,883,000. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares during the last quarter. D1 Capital Partners L.P. boosted its holdings in shares of Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock valued at $337,619,000 after acquiring an additional 994,639 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after acquiring an additional 876,745 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

NYSE:STZ traded up $0.71 during trading hours on Thursday, reaching $169.75. 1,825,662 shares of the company were exchanged, compared to its average volume of 1,808,829. 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 stock's 50-day moving average is $183.39 and its 200-day moving average is $192.27. The firm has a market cap of $30.22 billion, a PE ratio of 45.63, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $265.70.

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

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.40%. 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. Constellation Brands's dividend payout ratio is -800.00%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 12.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STZ shares. Bernstein Bank dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a report on Thursday, April 10th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Roth Capital decreased their target price on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Piper Sandler boosted their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Finally, Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and an average target price of $220.00.

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.