Cerity Partners LLC Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Cerity Partners LLC increased its position in Constellation Brands, Inc. (NYSE:STZ) by 13.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 85,741 shares of the company’s stock after acquiring an additional 10,403 shares during the period. Cerity Partners LLC’s holdings in Constellation Brands were worth $20,728,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in STZ. Moneta Group Investment Advisors LLC raised its holdings in Constellation Brands by 84,839.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after acquiring an additional 3,738,028 shares during the last quarter. Norges Bank purchased a new position in Constellation Brands in the 4th quarter worth approximately $373,796,000. Barclays PLC raised its holdings in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after acquiring an additional 1,483,668 shares during the last quarter. Morgan Stanley raised its holdings in Constellation Brands by 31.3% in the 4th quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after acquiring an additional 908,486 shares during the last quarter. Finally, Darsana Capital Partners LP raised its holdings in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after acquiring an additional 650,000 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Down 2.3 %

Shares of STZ stock opened at $262.24 on Friday. The stock has a market cap of $47.94 billion, a P/E ratio of 27.96, a PEG ratio of 1.86 and a beta of 0.97. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company’s fifty day simple moving average is $256.84 and its two-hundred day simple moving average is $246.99.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.98 EPS. Analysts predict that Constellation Brands, Inc. will post 13.16 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.54%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date is Thursday, May 2nd. Constellation Brands’s dividend payout ratio is currently 37.95%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STZ. Roth Mkm restated a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a report on Friday. HSBC boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research note on Thursday, December 21st. UBS Group boosted their target price on shares of Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group boosted their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $298.11.

Constellation Brands Company 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.