Miracle Mile Advisors LLC Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Miracle Mile Advisors LLC acquired a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,180 shares of the company’s stock, valued at approximately $4,239,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Paloma Partners Management Co grew its holdings in Constellation Brands by 568.4% in the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock valued at $7,731,000 after buying an additional 25,512 shares during the last quarter. Empowered Funds LLC grew its holdings in Constellation Brands by 318.8% in the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Constellation Brands by 3.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after buying an additional 2,980 shares during the last quarter. WealthPlan Investment Management LLC grew its holdings in Constellation Brands by 29.5% in the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company’s stock valued at $7,772,000 after buying an additional 6,867 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC acquired a new stake in Constellation Brands in the 3rd quarter valued at approximately $2,132,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 2.2 %

Shares of STZ opened at $185.84 on Tuesday. The stock has a fifty day moving average price of $230.80 and a two-hundred day moving average price of $240.79. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 52-week low of $176.51 and a 52-week high of $274.87. The company has a market cap of $33.74 billion, a price-to-earnings ratio of 60.14, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the firm posted $3.19 EPS. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.17%. Constellation Brands’s payout ratio is currently 130.74%.

Insider Transactions at Constellation Brands

In other news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 188,446 shares of company stock worth $45,687,281 over the last 90 days. 12.19% of the stock is owned by insiders.

Analysts Set New Price Targets

STZ has been the topic of a number of research analyst reports. Barclays lowered their target price on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a report on Monday. Morgan Stanley decreased their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a report on Monday. Piper Sandler decreased their price objective on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Finally, TD Cowen decreased their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Seven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $268.05.

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.