Cohen Capital Management Inc. Boosts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Cohen Capital Management Inc. lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 0.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 46,493 shares of the company’s stock after purchasing an additional 400 shares during the quarter. Constellation Brands makes up 1.7% of Cohen Capital Management Inc.’s holdings, making the stock its 19th biggest holding. Cohen Capital Management Inc.’s holdings in Constellation Brands were worth $10,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Compagnie Lombard Odier SCmA purchased a new position in shares of Constellation Brands in the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA purchased a new position in shares of Constellation Brands in the 4th quarter worth about $28,000. Versant Capital Management Inc boosted its holdings in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Centricity Wealth Management LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth about $35,000. Finally, Eastern Bank purchased a new position in shares of Constellation Brands in the 3rd quarter worth about $39,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 2.1 %

Shares of NYSE:STZ opened at $176.00 on Friday. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The firm has a market capitalization of $31.81 billion, a P/E ratio of 47.31, a P/E/G ratio of 1.52 and a beta of 1.75. The stock has a 50 day moving average price of $194.29 and a 200-day moving average price of $225.79. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the company posted $3.19 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.30%. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling

In related news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

STZ has been the subject of several analyst reports. UBS Group dropped their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Jefferies Financial Group restated a “hold” rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. StockNews.com upgraded Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They set a “neutral” rating and a $261.00 target price for the company. Finally, Truist Financial dropped their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

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.