Cypress Asset Management Inc. TX Takes $2.87 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Cypress Asset Management Inc. TX acquired a new stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,764 shares of the company's stock, valued at approximately $2,869,000.

A number of other hedge funds have also made changes to their positions in STZ. Van ECK Associates Corp lifted its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after acquiring an additional 876,745 shares during the period. Copperleaf Capital LLC acquired a new position in Constellation Brands during the fourth quarter worth $343,000. Grimes & Company Inc. purchased a new position in Constellation Brands during the fourth quarter worth $6,099,000. Empowered Funds LLC increased its position in Constellation Brands by 62.8% during the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company's stock worth $3,663,000 after buying an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new position in Constellation Brands during the fourth quarter worth $3,074,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on STZ. Royal Bank of Canada dropped their target price on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Piper Sandler downgraded Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Wells Fargo & Company cut their price target on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley cut their price objective on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, BMO Capital Markets dropped their price target on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $225.74.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 3,126 shares of the company's stock, 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. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Price Performance

NYSE STZ traded down $7.10 on Wednesday, reaching $178.81. 2,417,899 shares of the stock traded hands, compared to its average volume of 1,761,942. The firm's fifty day simple moving average is $184.91 and its 200 day simple moving average is $196.90. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company has a market cap of $31.83 billion, a price-to-earnings ratio of 48.07, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70.

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

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.28%. This is a positive change 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 (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.