Engineers Gate Manager LP Purchases New Stake in Constellation Brands Inc $STZ

Key Points

• Engineers Gate Manager LP acquired 11,826 shares of Constellation Brands valued at approximately $1.65 million, while institutional investors and hedge funds collectively own 77.34% of the company.
• Constellation Brands reported quarterly EPS of $3.43, below the $3.70 analyst consensus, although revenue of $2.43 billion exceeded estimates; revenue declined 3.3% year over year.
• Shares opened at $123.05, near their 12-month low, and the company maintains a quarterly dividend of $1.03 per share. Analysts have a consensus “Hold” rating with an average price target of $167.10.

Engineers Gate Manager LP acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 11,826 shares of the company's stock, valued at approximately $1,645,000.

Several other hedge funds also recently added to or reduced their stakes in STZ. Capital World Investors increased its holdings in Constellation Brands by 8.3% in the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company's stock valued at $998,740,000 after buying an additional 553,974 shares during the last quarter. Capital International Investors lifted its holdings in Constellation Brands by 48.5% during the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company's stock worth $888,930,000 after buying an additional 2,105,546 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Constellation Brands by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company's stock worth $513,871,000 after buying an additional 54,184 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Constellation Brands by 11.0% in the 4th quarter. Van ECK Associates Corp now owns 2,397,275 shares of the company's stock worth $330,728,000 after acquiring an additional 237,073 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Constellation Brands by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,826,652 shares of the company's stock worth $274,029,000 after acquiring an additional 88,538 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.5%

Shares of Constellation Brands stock opened at $123.05 on Thursday. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 2.45 and a beta of 0.41. Constellation Brands Inc has a twelve month low of $120.25 and a twelve month high of $168.60. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. The business's 50 day simple moving average is $131.00 and its 200-day simple moving average is $142.18.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.70 by ($0.27). The company had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.39 billion. Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.22 EPS. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Equities research analysts forecast that Constellation Brands Inc will post 11.84 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were given a dividend of $1.03 per share. The ex-dividend date was Thursday, July 30th. This represents a $4.12 annualized dividend and a dividend yield of 3.3%. Constellation Brands's payout ratio is currently 39.31%.

Analyst Ratings Changes

STZ has been the topic of several research reports. Bank of America dropped their price target on Constellation Brands from $152.00 to $145.00 and set an "underperform" rating on the stock in a research report on Thursday, July 2nd. BMO Capital Markets reaffirmed an "outperform" rating and issued a $190.00 price objective on shares of Constellation Brands in a report on Thursday, July 2nd. JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $169.00 to $165.00 and set a "neutral" rating for the company in a research note on Thursday, July 2nd. BNP Paribas Exane dropped their target price on shares of Constellation Brands from $117.00 to $115.00 and set an "underperform" rating on the stock in a report on Thursday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Constellation Brands from $150.00 to $136.00 and set a "hold" rating on the stock in a research report on Friday, September 11th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Constellation Brands presently has a consensus rating of "Hold" and a consensus target price of $167.10.

About Constellation Brands

Constellation Brands, Inc NYSE: STZ is a beverage alcohol company that produces, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Corona Extra, Modelo Especial, Modelo Negra, Pacifico and Victoria, along with wine brands including Robert Mondavi, The Prisoner, Kim Crawford and Meiomi. Its spirits portfolio includes brands such as Casa Noble tequila and High West whiskey.

The company's beer business is focused primarily on the United States, where Constellation markets and sells Mexican beer brands brewed by its production operations in Mexico.

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