Ethic Inc. Buys 355 Shares of Constellation Brands, Inc. (NYSE:STZ)

Ethic Inc. grew its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,648 shares of the company’s stock after purchasing an additional 355 shares during the quarter. Ethic Inc.’s holdings in Constellation Brands were worth $6,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of STZ. Berkshire Hathaway Inc bought a new stake in shares of Constellation Brands during the fourth quarter worth approximately $1,242,976,000. Norges Bank acquired a new stake in Constellation Brands during the 4th quarter worth approximately $445,883,000. Vanguard Group Inc. boosted its stake in Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. D1 Capital Partners L.P. boosted its stake in Constellation Brands by 186.6% in the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after purchasing an additional 994,639 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STZ. Royal Bank of Canada reduced their target price on shares of Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Truist Financial raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Wednesday. The Goldman Sachs Group lowered their target price on shares of Constellation Brands from $260.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, April 11th. BMO Capital Markets cut their price target on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. Finally, Needham & Company LLC restated a “buy” rating and set a $215.00 price objective on shares of Constellation Brands in a research note on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.74.

Constellation Brands Trading Down 0.7 %

Shares of Constellation Brands stock opened at $190.02 on Friday. The firm’s 50 day moving average is $183.37 and its 200 day moving average is $201.13. The firm has a market capitalization of $33.83 billion, a PE ratio of 51.08, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the firm posted $2.26 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $1.02 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands’s payout ratio is -800.00%.

Constellation Brands 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 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.