Moors & Cabot Inc. Has $1.96 Million Position in Constellation Brands Inc (NYSE:STZ)

Key Points

• Moors & Cabot Inc. has reduced its holdings in Constellation Brands by 43.1%, selling 8,104 shares and leaving it with 10,678 shares valued at approximately $1.96 million.
• Analysts have set a consensus price target of $213.74 for Constellation Brands, with a mix of ratings, including eleven holds and thirteen buys.
• The company recently announced a quarterly dividend of $1.02 per share, with a yield of 2.5%, scheduled for payment on August 14th.

Moors & Cabot Inc. trimmed its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 43.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,678 shares of the company's stock after selling 8,104 shares during the period. Moors & Cabot Inc.'s holdings in Constellation Brands were worth $1,960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in STZ. Berkshire Hathaway Inc purchased a new position in shares of Constellation Brands during the fourth quarter valued at approximately $1,242,976,000. D1 Capital Partners L.P. boosted its holdings in shares of Constellation Brands by 186.6% during the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after purchasing an additional 994,639 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its stake in Constellation Brands by 42.9% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after purchasing an additional 736,780 shares during the last quarter. GAMMA Investing LLC lifted its position in Constellation Brands by 7,602.6% during the first quarter. GAMMA Investing LLC now owns 396,220 shares of the company's stock worth $72,714,000 after buying an additional 391,076 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its stake in Constellation Brands by 840.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 378,563 shares of the company's stock worth $83,662,000 after buying an additional 338,330 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

Constellation Brands stock traded up $4.21 during trading hours on Monday, hitting $170.39. The stock had a trading volume of 1,428,976 shares, compared to its average volume of 1,938,742. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $261.06. The company has a market cap of $30.04 billion, a PE ratio of -71.29, a price-to-earnings-growth ratio of 10.06 and a beta of 0.67. The company has a 50-day moving average of $170.18 and a two-hundred day moving average of $177.20. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 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 business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business posted $3.57 earnings per share. Constellation Brands's revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on STZ shares. Barclays set a $202.00 target price on shares of Constellation Brands and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. UBS Group lifted their price objective on Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Piper Sandler increased their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. Finally, Needham & Company LLC raised their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and an average price target of $213.74.

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.