Entropy Technologies LP Sells 3,854 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• Entropy Technologies LP has reduced its stake in Constellation Brands Inc by 13.8%, owning 24,003 shares valued at $4,405,000 after selling 3,854 shares in the first quarter.
• Multiple hedge funds have increased their positions in Constellation Brands, with Brighton Jones LLC boosting its stake by 23.0% and Renaissance Technologies LLC increasing theirs by 30.0% in the fourth quarter.
• Constellation Brands has received upgraded ratings from analysts, with price targets ranging from $170 to $205, reflecting a general consensus of "Moderate Buy" for the stock.

Entropy Technologies LP trimmed its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 13.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,003 shares of the company's stock after selling 3,854 shares during the quarter. Entropy Technologies LP's holdings in Constellation Brands were worth $4,405,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Piscataqua Savings Bank increased its stake in shares of Constellation Brands by 1.7% during the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock worth $683,000 after purchasing an additional 62 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Constellation Brands by 5.8% during the 1st quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock worth $207,000 after purchasing an additional 62 shares during the last quarter. World Investment Advisors increased its stake in shares of Constellation Brands by 1.7% during the 1st quarter. World Investment Advisors now owns 3,801 shares of the company's stock worth $698,000 after purchasing an additional 62 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Constellation Brands by 0.9% during the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock worth $1,283,000 after purchasing an additional 64 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in shares of Constellation Brands by 3.0% during the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after purchasing an additional 65 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Piper Sandler increased their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Wells Fargo & Company reduced their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Needham & Company LLC increased their price objective on Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Raymond James Financial raised Constellation Brands to a "strong-buy" rating in a research report on Monday, July 7th. Finally, Cowen reissued a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

Constellation Brands Trading Up 0.2%

NYSE STZ traded up $0.37 during trading hours on Wednesday, hitting $170.35. The company's stock had a trading volume of 1,429,446 shares, compared to its average volume of 2,413,258. The stock has a fifty day moving average of $168.89 and a 200 day moving average of $176.67. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $30.03 billion, a P/E ratio of -71.28, a PEG ratio of 10.21 and a beta of 0.67. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the business posted $3.57 EPS. Constellation Brands's quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.45% of the company's stock.

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.