Magnetar Financial LLC Purchases Shares of 4,607 Constellation Brands, Inc. (NYSE:STZ)

Magnetar Financial LLC purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,607 shares of the company’s stock, valued at approximately $1,018,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans lifted its position in shares of Constellation Brands by 13.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock worth $1,892,000 after purchasing an additional 845 shares during the last quarter. Pathstone Holdings LLC lifted its position in shares of Constellation Brands by 7.2% during the 3rd quarter. Pathstone Holdings LLC now owns 24,933 shares of the company’s stock worth $6,425,000 after purchasing an additional 1,681 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of Constellation Brands by 42.5% during the 3rd quarter. Prospera Financial Services Inc now owns 3,919 shares of the company’s stock worth $1,010,000 after purchasing an additional 1,168 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Constellation Brands during the 3rd quarter worth $815,000. Finally, King Luther Capital Management Corp lifted its position in shares of Constellation Brands by 12.4% during the 3rd quarter. King Luther Capital Management Corp now owns 1,411 shares of the company’s stock worth $364,000 after purchasing an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on STZ. Roth Capital decreased their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Truist Financial cut their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. UBS Group cut their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Barclays cut their price target on shares of Constellation Brands from $214.00 to $205.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Hold” and an average target price of $250.41.

Constellation Brands Stock Down 0.6 %

STZ stock opened at $177.73 on Friday. The company has a market cap of $32.12 billion, a P/E ratio of 47.78, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The company’s 50-day moving average price is $177.32 and its 200 day moving average price is $217.28. 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 released its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $3.19 EPS. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

About Constellation Brands

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.