Virtu Financial LLC Cuts Stake in Constellation Brands Inc $STZ

Virtu Financial LLC decreased its stake in Constellation Brands Inc (NYSE:STZ) by 38.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,751 shares of the company’s stock after selling 9,851 shares during the period. Virtu Financial LLC’s holdings in Constellation Brands were worth $2,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. MV Capital Management Inc. purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $26,000. Stance Capital LLC acquired a new position in shares of Constellation Brands during the third quarter valued at $26,000. Strive Financial Group LLC bought a new position in shares of Constellation Brands during the fourth quarter worth about $27,000. GoalVest Advisory LLC acquired a new stake in shares of Constellation Brands in the 4th quarter worth about $28,000. Finally, Elyxium Wealth LLC bought a new stake in Constellation Brands in the 4th quarter valued at about $33,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STZ has been the subject of several analyst reports. Barclays boosted their price objective on Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Piper Sandler lifted their price objective on shares of Constellation Brands from $146.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $185.00 target price on shares of Constellation Brands in a research report on Friday, April 10th. TD Cowen raised shares of Constellation Brands from a “hold” rating to a “buy” rating and raised their target price for the company from $142.00 to $190.00 in a research note on Monday, April 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.68.

Insider Activity at Constellation Brands

In related 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 completion of the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 12.20% of the company’s stock.

Constellation Brands Stock Up 0.0%

Shares of Constellation Brands stock opened at $141.25 on Friday. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.13. The firm has a market capitalization of $24.32 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 3.32 and a beta of 0.39. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock’s fifty day moving average is $148.95 and its 200-day moving average is $150.12.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands’s revenue was down 11.3% on a year-over-year basis. During the same quarter last year, the business posted $2.63 EPS. Equities analysts anticipate that Constellation Brands Inc will post 11.84 earnings per share for the current year.

Constellation Brands Increases Dividend

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

Constellation Brands Company Profile

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.