Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Man Group plc

Man Group plc raised its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 562.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,066 shares of the company's stock after purchasing an additional 35,719 shares during the period. Man Group plc's holdings in Constellation Brands were worth $9,297,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Nomura Holdings Inc. bought a new stake in shares of Constellation Brands in the fourth quarter worth $1,136,000. NorthRock Partners LLC raised its holdings in shares of Constellation Brands by 83.6% during the fourth quarter. NorthRock Partners LLC now owns 2,368 shares of the company's stock valued at $523,000 after purchasing an additional 1,078 shares during the period. Occudo Quantitative Strategies LP raised its holdings in shares of Constellation Brands by 141.4% in the 4th quarter. Occudo Quantitative Strategies LP now owns 14,473 shares of the company's stock worth $3,199,000 after acquiring an additional 8,477 shares during the last quarter. OMERS ADMINISTRATION Corp raised its holdings in shares of Constellation Brands by 20.6% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 6,879 shares of the company's stock worth $1,520,000 after acquiring an additional 1,173 shares during the last quarter. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands in the 4th quarter worth about $29,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

STZ stock traded down $3.53 during trading on Wednesday, hitting $185.84. 1,261,861 shares of the company's stock traded hands, compared to its average volume of 1,754,726. 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 business has a fifty day simple moving average of $184.53 and a 200 day simple moving average of $198.54. The stock has a market capitalization of $33.08 billion, a price-to-earnings ratio of 49.96, a P/E/G ratio of 1.52 and a beta of 1.75.

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, topping the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $2.26 EPS. As a group, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a yield of 2.20%. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now owns 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on STZ shares. Citigroup decreased their price objective on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Piper Sandler downgraded shares of Constellation Brands from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Morgan Stanley reduced their target price on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Royal Bank of Canada reduced their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. Ten analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average target price of $225.74.

About Constellation Brands

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.