Virtu Financial LLC Takes $5.88 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Virtu Financial LLC purchased a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 26,620 shares of the company’s stock, valued at approximately $5,883,000.

A number of other institutional investors have also recently made changes to their positions in STZ. Van ECK Associates Corp raised its position in shares of Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after buying an additional 876,745 shares during the last quarter. Copperleaf Capital LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at $343,000. Grimes & Company Inc. bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $6,099,000. Empowered Funds LLC raised its holdings in shares of Constellation Brands by 62.8% in the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after acquiring an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $3,074,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $177.73 on Friday. The firm has a market cap of $32.12 billion, a price-to-earnings ratio of 47.78, a P/E/G ratio of 1.52 and a beta of 0.90. 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, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The firm’s 50-day simple moving average is $177.32 and its 200 day simple moving average is $217.28.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $3.19 earnings per share. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders 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 of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is 108.60%.

Analysts Set New Price Targets

A number of brokerages recently commented on STZ. UBS Group dropped their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Morgan Stanley lowered Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Truist Financial lowered their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Evercore ISI decreased their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada reduced their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $250.41.

Insiders Place Their Bets

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 cost of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 12.19% of the company’s stock.

Constellation Brands Company 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.