Rings Capital Management LLC Buys New Shares in Constellation Brands Inc $STZ

Rings Capital Management LLC purchased a new position in shares of Constellation Brands Inc (NYSE:STZ) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,000 shares of the company’s stock, valued at approximately $828,000. Constellation Brands comprises 0.4% of Rings Capital Management LLC’s investment portfolio, making the stock its 7th largest holding.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock valued at $2,451,346,000 after buying an additional 573,766 shares during the period. Capital World Investors boosted its holdings in Constellation Brands by 8.3% in the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock valued at $998,740,000 after acquiring an additional 553,974 shares during the last quarter. State Street Corp grew its position in Constellation Brands by 5.0% during the fourth quarter. State Street Corp now owns 6,911,369 shares of the company’s stock valued at $953,492,000 after acquiring an additional 329,337 shares during the period. Capital International Investors grew its position in Constellation Brands by 48.5% during the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock valued at $888,930,000 after acquiring an additional 2,105,546 shares during the period. Finally, Geode Capital Management LLC increased its stake in Constellation Brands by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company’s stock worth $513,871,000 after acquiring an additional 54,184 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock opened at $144.26 on Wednesday. The firm has a market cap of $24.84 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 3.48 and a beta of 0.39. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.13. The stock has a 50-day simple moving average of $149.71 and a 200-day simple moving average of $150.12.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company posted $2.63 EPS. Constellation Brands’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, equities analysts predict that Constellation Brands Inc will post 11.87 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. Constellation Brands’s payout ratio is currently 42.96%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. Piper Sandler boosted their target price on Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Royal Bank Of Canada reissued an “outperform” rating and set a $185.00 target price on shares of Constellation Brands in a research report on Friday, April 10th. Bank of America reduced their price target on shares of Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a research report on Thursday, May 28th. Finally, Wells Fargo & Company increased their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $175.26.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 4,407 shares of Constellation Brands stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 12.20% of the company’s stock.

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.