Parvin Asset Management LLC Invests $991,000 in Constellation Brands, Inc. (NYSE:STZ)

Parvin Asset Management LLC purchased a new position in Constellation Brands, Inc. (NYSE:STZ - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,485 shares of the company's stock, valued at approximately $991,000. Constellation Brands makes up approximately 1.0% of Parvin Asset Management LLC's portfolio, making the stock its 22nd largest holding.

Other hedge funds have also recently made changes to their positions in the company. Rehmann Capital Advisory Group boosted its holdings in shares of Constellation Brands by 11.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,881 shares of the company's stock valued at $858,000 after buying an additional 403 shares in the last quarter. Voleon Capital Management LP purchased a new stake in Constellation Brands during the fourth quarter valued at approximately $5,061,000. Schonfeld Strategic Advisors LLC lifted its position in Constellation Brands by 5,559.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 65,258 shares of the company's stock valued at $14,422,000 after acquiring an additional 64,105 shares during the last quarter. AQR Capital Management LLC boosted its stake in Constellation Brands by 275.9% in the fourth quarter. AQR Capital Management LLC now owns 203,537 shares of the company's stock valued at $44,982,000 after acquiring an additional 149,393 shares in the last quarter. Finally, Lido Advisors LLC grew its holdings in Constellation Brands by 50.7% in the fourth quarter. Lido Advisors LLC now owns 109,033 shares of the company's stock worth $24,096,000 after purchasing an additional 36,674 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial lowered their price objective on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. UBS Group dropped their price target on Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Piper Sandler downgraded shares of Constellation Brands from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. TD Cowen lowered their target price on shares of Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price target on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $224.42.

Constellation Brands Stock Performance

Shares of STZ traded up $1.61 during trading hours on Friday, hitting $187.05. The stock had a trading volume of 1,146,224 shares, compared to its average volume of 1,716,374. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 50.28, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a 50-day moving average price of $181.96 and a 200 day moving average price of $202.93. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm posted $2.26 earnings per share. The company's revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.18%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's dividend payout ratio is presently -800.00%.

Constellation Brands Company 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.