Waterloo Capital L.P. Boosts Stake in Constellation Brands, Inc. (NYSE:STZ)

Waterloo Capital L.P. lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,943 shares of the company’s stock after acquiring an additional 378 shares during the quarter. Waterloo Capital L.P.’s holdings in Constellation Brands were worth $1,014,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. New Millennium Group LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands during the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands during the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. purchased a new stake in shares of Constellation Brands during the 1st quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Constellation Brands during the 4th quarter worth about $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,854 shares of Constellation Brands stock in a transaction on Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the transaction, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 in the last ninety days. 12.19% of the stock is owned by corporate insiders.

Constellation Brands Stock Performance

Shares of STZ stock opened at $251.00 on Thursday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The stock has a market capitalization of $45.93 billion, a PE ratio of 18.70, a P/E/G ratio of 1.69 and a beta of 1.75. The firm has a 50 day moving average of $245.88 and a two-hundred day moving average of $253.94.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.91 EPS. On average, research analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were paid a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.61%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Truist Financial reaffirmed a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.78.

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.