Point72 Hong Kong Ltd Makes New $6.23 Million Investment in Constellation Brands, Inc. (NYSE:STZ)

Point72 Hong Kong Ltd purchased a new stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 28,200 shares of the company's stock, valued at approximately $6,232,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of STZ. Allworth Financial LP raised its holdings in Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock worth $1,626,000 after acquiring an additional 59 shares in the last quarter. BSW Wealth Partners raised its holdings in Constellation Brands by 4.2% during the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock worth $345,000 after acquiring an additional 63 shares in the last quarter. Philip James Wealth Mangement LLC raised its holdings in Constellation Brands by 8.0% during the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock worth $204,000 after acquiring an additional 68 shares in the last quarter. Barden Capital Management Inc. raised its holdings in Constellation Brands by 1.3% during the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after acquiring an additional 72 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in Constellation Brands by 4.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company's stock worth $439,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of STZ stock traded down $2.63 during trading on Tuesday, hitting $190.28. The company had a trading volume of 553,776 shares, compared to its average volume of 1,746,247. 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 market capitalization of $33.87 billion, a P/E ratio of 51.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The stock's 50-day moving average price is $184.28 and its 200 day moving average price is $198.69. 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 issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.26 earnings per share. Equities analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were paid a $1.02 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Tuesday, April 29th. Constellation Brands's payout ratio is -800.00%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 12.19% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on STZ shares. The Goldman Sachs Group dropped their target price on Constellation Brands from $260.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley reduced their price target on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. reduced their price target on Constellation Brands from $203.00 to $194.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Citigroup reduced their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Piper Sandler cut 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 report on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.74.

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.