Fisher Funds Management LTD Makes New Investment in Constellation Brands, Inc. (NYSE:STZ)

Fisher Funds Management LTD purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,678 shares of the company’s stock, valued at approximately $5,231,000.

A number of other large investors also recently modified their holdings of STZ. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands in the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Versant Capital Management Inc grew its holdings in shares of Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $35,000. Finally, Eastern Bank bought a new position in Constellation Brands in the 3rd quarter valued at approximately $39,000. 77.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on STZ shares. StockNews.com raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Thursday, February 13th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Truist Financial cut their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $293.00 price target on shares of Constellation Brands in a research note on Monday, February 3rd. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.19% of the stock is owned by company insiders.

Constellation Brands Trading Up 2.1 %

NYSE:STZ opened at $176.00 on Friday. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $31.81 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.52 and a beta of 1.75. The firm has a fifty day simple moving average of $194.29 and a two-hundred day simple moving average of $225.79.

Constellation Brands (NYSE:STZ) last issued 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). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 earnings per share. The business’s quarterly revenue was down .3% on a year-over-year basis. Analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

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.