Freemont Management S.A. Raises Stake in Constellation Brands, Inc. (NYSE:STZ)

Freemont Management S.A. increased its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 66.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,000 shares of the company’s stock after buying an additional 6,000 shares during the period. Constellation Brands comprises about 1.9% of Freemont Management S.A.’s holdings, making the stock its 16th biggest position. Freemont Management S.A.’s holdings in Constellation Brands were worth $3,900,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in shares of Constellation Brands during the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands during the second quarter valued at about $32,000. LRI Investments LLC bought a new position in Constellation Brands during the first quarter worth about $37,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Constellation Brands in the second quarter worth about $36,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 1.0 %

Shares of STZ opened at $240.71 on Thursday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a market capitalization of $43.70 billion, a P/E ratio of 77.90, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm’s 50 day simple moving average is $244.61 and its 200 day simple moving average is $248.35.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $3.70 earnings per share. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.68%. Constellation Brands’s payout ratio is 130.74%.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,210 shares of company stock worth $31,040,994 over the last ninety days. Insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STZ. Truist Financial dropped their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Bank of America restated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Finally, Evercore ISI reduced their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

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.