M&T Bank Corp Buys 11,269 Shares of Constellation Brands Inc $STZ

Key Points

• M&T Bank Corp raised its stake in Constellation Brands by 63.1%, buying 11,269 shares to hold 29,120 shares worth about $4.02 million at the end of the quarter.
• Constellation Brands topped estimates with Q results of $1.90 EPS (vs. $1.71 expected) and $1.92B revenue (vs. $1.84B expected), although revenue fell 11.3% year‑over‑year.
• The company raised its quarterly dividend to $1.03 per share (annualized $4.12) for a yield near 2.6%, and analysts hold a consensus "Moderate Buy" rating with a $178.14 price target.

M&T Bank Corp raised its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 63.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,120 shares of the company's stock after acquiring an additional 11,269 shares during the quarter. M&T Bank Corp's holdings in Constellation Brands were worth $4,017,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of STZ. Vanguard Group Inc. grew its position in shares of Constellation Brands by 3.3% in the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company's stock valued at $2,451,346,000 after purchasing an additional 573,766 shares during the last quarter. Capital International Investors increased its stake in shares of Constellation Brands by 0.7% during the third quarter. Capital International Investors now owns 4,337,054 shares of the company's stock worth $584,135,000 after purchasing an additional 28,036 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Constellation Brands by 1.0% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,710,940 shares of the company's stock worth $499,752,000 after purchasing an additional 35,085 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Constellation Brands by 76.7% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,126,644 shares of the company's stock worth $421,059,000 after purchasing an additional 1,356,903 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Constellation Brands by 15.5% in the 3rd quarter. Van ECK Associates Corp now owns 2,160,202 shares of the company's stock valued at $290,915,000 after purchasing an additional 290,701 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $155.91 on Monday. The business has a fifty day moving average price of $154.57 and a two-hundred day moving average price of $147.40. The stock has a market capitalization of $27.04 billion, a PE ratio of 16.26, a P/E/G ratio of 3.42 and a beta of 0.44. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $196.91.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands's quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.63 EPS. As a group, equities analysts predict that Constellation Brands Inc will post 11.9 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be paid a dividend of $1.03 per share. The ex-dividend date is Wednesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 2.6%. Constellation Brands's dividend payout ratio is currently 42.54%.

Analysts Set New Price Targets

A number of research analysts have commented on STZ shares. Barclays upped their price objective on Constellation Brands from $151.00 to $170.00 and gave the company an "equal weight" rating in a report on Friday, April 10th. Sanford C. Bernstein boosted their target price on shares of Constellation Brands from $195.00 to $197.00 and gave the company an "outperform" rating in a research report on Friday, January 9th. Morgan Stanley upped their price target on shares of Constellation Brands from $160.00 to $183.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. BMO Capital Markets reaffirmed an "outperform" rating and set a $190.00 price target on shares of Constellation Brands in a research report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Constellation Brands from $154.00 to $155.00 and gave the stock a "hold" rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.14.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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