Sone Capital Management LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Sone Capital Management LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 50,828 shares of the company's stock, valued at approximately $11,233,000. Constellation Brands makes up approximately 1.4% of Sone Capital Management LLC's holdings, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mainstream Capital Management LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands during the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands during the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands during the fourth quarter valued at approximately $28,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Constellation Brands during the fourth quarter valued at approximately $29,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now owns 3,126 shares of the company's stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STZ. StockNews.com raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Constellation Brands from $203.00 to $194.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Roth Mkm dropped their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $215.00 target price on the stock in a research report on Wednesday, May 7th. Finally, BMO Capital Markets reduced their target price on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Friday, April 11th. Ten investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus price target of $225.74.

Constellation Brands Stock Down 1.9%

Shares of NYSE:STZ traded down $3.53 during midday trading on Wednesday, reaching $185.84. The company had a trading volume of 1,261,861 shares, compared to its average volume of 1,754,726. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock's fifty day moving average price is $184.53 and its 200-day moving average price is $198.54. The stock has a market capitalization of $33.08 billion, a P/E ratio of 49.96, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the firm earned $2.26 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share 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 paid a dividend of $1.02 per share. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.20%. Constellation Brands's payout ratio is presently -800.00%.

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.