Constellation Brands, Inc. (NYSE:STZ) is Bain Capital Public Equity LP’s 4th Largest Position

Bain Capital Public Equity LP trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 14.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,481 shares of the company’s stock after selling 6,103 shares during the period. Constellation Brands comprises 6.4% of Bain Capital Public Equity LP’s investment portfolio, making the stock its 4th largest position. Bain Capital Public Equity LP’s holdings in Constellation Brands were worth $8,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $443,844,000. Darsana Capital Partners LP grew its holdings in shares of Constellation Brands by 288.9% in the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares during the last quarter. Boston Partners purchased a new position in shares of Constellation Brands in the fourth quarter worth $156,358,000. International Assets Investment Management LLC raised its holdings in Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after buying an additional 564,744 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after buying an additional 388,390 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on STZ shares. Jefferies Financial Group increased their target price on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Barclays cut their price objective on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 29th. BMO Capital Markets upped their target price on Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Piper Sandler started coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $298.20.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at $1,420,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock valued at $12,582,321 in the last 90 days. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 0.6 %

NYSE STZ opened at $252.51 on Thursday. The company has a market capitalization of $46.20 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 1.70 and a beta of 0.89. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The stock’s 50-day moving average price is $255.79 and its 200-day moving average price is $251.78. 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 (NYSE:STZ) last released its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the business posted $1.98 earnings per share. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.54 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.60%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is presently 43.07%.

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.