Ieq Capital LLC Buys 6,942 Shares of Constellation Brands, Inc. (NYSE:STZ)

Ieq Capital LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 248.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,734 shares of the company’s stock after purchasing an additional 6,942 shares during the quarter. Ieq Capital LLC’s holdings in Constellation Brands were worth $2,151,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STZ. Van ECK Associates Corp boosted its holdings in Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after acquiring an additional 876,745 shares during the last quarter. Copperleaf Capital LLC bought a new position in shares of Constellation Brands in the fourth quarter valued at $343,000. Grimes & Company Inc. acquired a new stake in shares of Constellation Brands in the 4th quarter worth about $6,099,000. Empowered Funds LLC lifted its holdings in shares of Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. bought a new position in Constellation Brands during the 4th quarter valued at $3,074,000. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STZ shares. Evercore ISI cut their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Truist Financial cut their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Wells Fargo & Company reduced their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a report on Tuesday, January 7th. Morgan Stanley dropped their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Constellation Brands Stock Up 2.1 %

NYSE STZ opened at $176.00 on Monday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. 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 business’s 50-day moving average is $194.29 and its 200 day moving average is $225.71. The stock has a market capitalization of $31.81 billion, a PE ratio of 47.31, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.19 EPS. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is 108.60%.

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.