First Trust Advisors LP Acquires 261,166 Shares of Constellation Brands, Inc. (NYSE:STZ)

First Trust Advisors LP grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 824.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 292,834 shares of the company's stock after buying an additional 261,166 shares during the period. First Trust Advisors LP owned 0.16% of Constellation Brands worth $64,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STZ. Mainstream Capital Management LLC bought a new stake in Constellation Brands in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in Constellation Brands during the fourth quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the fourth quarter worth approximately $27,000. Union Bancaire Privee UBP SA acquired a new position in Constellation Brands in the fourth quarter worth approximately $28,000. Finally, Versant Capital Management Inc increased its holdings in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after buying an additional 142 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STZ. Truist Financial dropped their price target on Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Argus downgraded Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Jefferies Financial Group reaffirmed a "hold" rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Piper Sandler lowered shares of Constellation Brands from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, Roth Capital lowered their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a "buy" rating on the stock in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $224.42.

Constellation Brands Stock Performance

NYSE:STZ traded up $1.80 during mid-day trading on Monday, hitting $187.15. 272,803 shares of the company's stock traded hands, compared to its average volume of 1,706,220. The firm has a market capitalization of $33.82 billion, a price-to-earnings ratio of 50.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm has a 50 day moving average of $180.88 and a two-hundred day moving average of $204.36. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. The firm had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.26 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be issued a $1.02 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.18%. Constellation Brands's dividend payout ratio is -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.