Hook Mill Capital Partners LP Takes $31.49 Million Position in Constellation Brands Inc $STZ

Hook Mill Capital Partners LP bought a new position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 193,572 shares of the company’s stock, valued at approximately $31,490,000. Constellation Brands accounts for about 3.1% of Hook Mill Capital Partners LP’s portfolio, making the stock its 15th biggest holding. Hook Mill Capital Partners LP owned about 0.11% of Constellation Brands at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of STZ. Wellington Management Group LLP lifted its holdings in shares of Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after acquiring an additional 2,514,517 shares during the period. Ameriprise Financial Inc. lifted its holdings in Constellation Brands by 650.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after purchasing an additional 1,533,961 shares during the last quarter. Norges Bank bought a new position in Constellation Brands during the 2nd quarter valued at about $239,737,000. Berkshire Hathaway Inc boosted its position in Constellation Brands by 11.6% in the second quarter. Berkshire Hathaway Inc now owns 13,400,000 shares of the company’s stock valued at $2,179,912,000 after buying an additional 1,391,000 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its stake in Constellation Brands by 39.6% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,675,855 shares of the company’s stock worth $597,988,000 after buying an additional 1,042,904 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the topic of several recent analyst reports. Sanford C. Bernstein reduced their target price on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Barclays reduced their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. Morgan Stanley lowered their target price on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 price target on shares of Constellation Brands in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $181.88.

Constellation Brands Stock Down 1.5%

Constellation Brands stock opened at $147.37 on Friday. The firm has a market capitalization of $25.80 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 0.45 and a beta of 0.46. The company’s 50 day simple moving average is $136.41 and its 200 day simple moving average is $152.63. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $241.69.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The business had revenue of $2.32 billion during the quarter. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Thursday, October 30th. Constellation Brands’s payout ratio is 59.56%.

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.