Marex Group plc Invests $1.89 Million in Constellation Brands Inc $STZ

Marex Group plc acquired a new stake in Constellation Brands Inc (NYSE:STZ) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,614 shares of the company’s stock, valued at approximately $1,889,000.

Several other large investors have also recently added to or reduced their stakes in STZ. Berkshire Hathaway Inc boosted its position in Constellation Brands by 11.6% in the 2nd 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 during the period. Wellington Management Group LLP raised its stake in shares of Constellation Brands by 127.9% in 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 in the last quarter. Geode Capital Management LLC boosted its holdings in Constellation Brands by 13.6% in the second quarter. Geode Capital Management LLC now owns 3,737,860 shares of the company’s stock valued at $605,293,000 after purchasing an additional 448,259 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Constellation Brands by 39.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,675,855 shares of the company’s stock worth $597,988,000 after purchasing an additional 1,042,904 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Constellation Brands by 2.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,969,081 shares of the company’s stock worth $320,329,000 after purchasing an additional 46,959 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 1.5%

Shares of Constellation Brands stock opened at $147.37 on Friday. The company has a fifty day simple moving average of $136.41 and a 200-day simple moving average of $152.39. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $241.69. The company has a current ratio of 1.08, a quick ratio of 0.54 and a debt-to-equity ratio of 1.26. The stock has a market cap of $25.80 billion, a price-to-earnings ratio of 21.51, a PEG ratio of 0.44 and a beta of 0.46.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The firm had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. On average, equities analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STZ. Piper Sandler decreased their price objective on Constellation Brands from $155.00 to $135.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Bank of America decreased their price target on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Constellation Brands in a research report on Monday, December 8th. Barclays reduced their price objective on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Finally, Roth Capital reiterated a “buy” rating and set a $209.00 target price (down previously from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $181.88.

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.