XTX Topco Ltd Boosts Stock Position in Constellation Brands Inc (NYSE:STZ)

Key Points

• XTX Topco Ltd dramatically increased its holdings in Constellation Brands by 2,019.2%, ending the quarter with 30,707 shares valued at approximately $5.6 million.
• Analysts have set a new average price target of $213.74 for Constellation Brands, with recommendations varying from "hold" to "buy" ratings from multiple institutions.
• Constellation Brands announced a quarterly dividend of $1.02 per share, representing a yield of 2.36%, to be paid on August 14th to investors of record by July 30th.

XTX Topco Ltd raised its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 2,019.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,707 shares of the company's stock after acquiring an additional 29,258 shares during the period. XTX Topco Ltd's holdings in Constellation Brands were worth $5,635,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. grew its holdings in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after purchasing an additional 815 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of Constellation Brands by 137.0% in the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock worth $405,000 after purchasing an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Constellation Brands by 28.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after purchasing an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Constellation Brands by 7.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Constellation Brands by 3.0% in the first 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.

Constellation Brands Stock Performance

NYSE STZ traded down $4.39 during trading hours on Thursday, hitting $167.07. The company's stock had a trading volume of 2,239,310 shares, compared to its average volume of 1,835,598. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06. The company's 50 day simple moving average is $170.91 and its two-hundred day simple moving average is $177.51. The company has a market cap of $29.45 billion, a P/E ratio of -69.90, a price-to-earnings-growth ratio of 10.38 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly 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). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.57 earnings per share. As a group, sell-side analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors 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 dividend on an annualized basis and a yield of 2.4%. Constellation Brands's payout ratio is currently -170.71%.

Insider Buying and Selling

In other news, 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 sale, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent analyst reports. UBS Group raised their target price on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft dropped their price target on Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research note on Thursday, June 5th. Bernstein Bank dropped their price target on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating for the company in a research note on Thursday, April 10th. Finally, Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands 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.