Audent Global Asset Management LLC Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Audent Global Asset Management LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 165.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,427 shares of the company's stock after purchasing an additional 2,136 shares during the quarter. Audent Global Asset Management LLC's holdings in Constellation Brands were worth $757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares during the period. Copperleaf Capital LLC bought a new position in Constellation Brands during the 4th quarter valued at approximately $343,000. Empowered Funds LLC raised its position in Constellation Brands by 62.8% during the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock valued at $3,663,000 after purchasing an additional 6,391 shares during the last quarter. Southern Style Financial Inc. purchased a new stake in Constellation Brands in the 4th quarter worth approximately $3,074,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Constellation Brands by 29.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,021 shares of the company's stock worth $3,566,000 after buying an additional 3,660 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 12.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on STZ shares. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a report on Wednesday, May 7th. Needham & Company LLC reissued a "buy" rating and set a $215.00 price objective on shares of Constellation Brands in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. The Goldman Sachs Group dropped their target price on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Citigroup reduced their price target on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $225.74.

Constellation Brands Stock Down 0.9%

Shares of Constellation Brands stock traded down $1.61 during midday trading on Friday, hitting $178.10. The company had a trading volume of 3,033,770 shares, compared to its average volume of 1,771,941. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market capitalization of $31.71 billion, a P/E ratio of 47.88, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a 50 day moving average of $184.91 and a 200 day moving average of $196.38.

Constellation Brands (NYSE:STZ - Get Free Report) last released its 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 for the quarter, compared to the consensus estimate of $2.14 billion. During the same period in the previous year, the company posted $2.26 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

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.