Hsbc Holdings PLC Grows Position in Constellation Brands Inc $STZ

Hsbc Holdings PLC grew its stake in Constellation Brands Inc (NYSE:STZ) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 269,319 shares of the company’s stock after buying an additional 19,730 shares during the period. Hsbc Holdings PLC’s holdings in Constellation Brands were worth $37,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MV Capital Management Inc. acquired a new position in shares of Constellation Brands in the 4th quarter valued at $26,000. Stance Capital LLC acquired a new stake in Constellation Brands during the 3rd quarter worth about $26,000. Strive Financial Group LLC acquired a new stake in Constellation Brands during the 4th quarter worth about $27,000. GoalVest Advisory LLC purchased a new stake in Constellation Brands during the 4th quarter valued at about $28,000. Finally, Elyxium Wealth LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $33,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This trade represents a 32.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.20% of the company’s stock.

Constellation Brands Trading Up 1.5%

Shares of STZ stock opened at $143.58 on Wednesday. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $178.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The stock’s fifty day moving average is $148.07 and its two-hundred day moving average is $150.27. The firm has a market capitalization of $24.72 billion, a P/E ratio of 14.97, a PEG ratio of 4.15 and a beta of 0.39.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.63 earnings per share. Research analysts expect that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is currently 42.96%.

Wall Street Analyst Weigh In

STZ has been the topic of a number of recent analyst reports. Needham & Company LLC increased their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Constellation Brands in a research report on Monday, May 4th. Citigroup reaffirmed a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. UBS Group dropped their target price on shares of Constellation Brands from $186.00 to $175.00 and set a “buy” rating on the stock in a research report on Wednesday, June 17th. Finally, Piper Sandler upped their price target on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $173.53.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.