Black Cypress Capital Management LLC Buys 6,016 Shares of Constellation Brands Inc $STZ

Black Cypress Capital Management LLC lifted its stake in Constellation Brands Inc (NYSE:STZ) by 10,026.7% in the 4th quarter, HoldingsChannel reports. The fund owned 6,076 shares of the company’s stock after purchasing an additional 6,016 shares during the quarter. Constellation Brands comprises 0.6% of Black Cypress Capital Management LLC’s investment portfolio, making the stock its 18th largest position. Black Cypress Capital Management LLC’s holdings in Constellation Brands were worth $838,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its position in shares of Constellation Brands by 329.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 73,323 shares of the company’s stock worth $9,874,000 after acquiring an additional 56,263 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Constellation Brands by 6.1% in the 4th quarter. Nordea Investment Management AB now owns 867,776 shares of the company’s stock worth $120,300,000 after acquiring an additional 49,625 shares in the last quarter. LSV Asset Management acquired a new position in Constellation Brands during the 3rd quarter valued at about $33,018,000. Diamond Hill Capital Management Inc. increased its position in Constellation Brands by 97.3% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 242,171 shares of the company’s stock valued at $32,613,000 after buying an additional 119,400 shares in the last quarter. Finally, Portside Wealth Group LLC increased its position in Constellation Brands by 455.8% during the 3rd quarter. Portside Wealth Group LLC now owns 8,971 shares of the company’s stock valued at $1,208,000 after buying an additional 7,357 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Down 2.4%

Constellation Brands stock opened at $138.78 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The business’s 50-day simple moving average is $152.10 and its two-hundred day simple moving average is $149.14. The company has a market cap of $23.90 billion, a PE ratio of 14.47, a PEG ratio of 3.05 and a beta of 0.43. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $180.41.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The business had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.63 EPS. Equities analysts anticipate that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Constellation Brands’s dividend payout ratio (DPR) is currently 42.96%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Barclays upped their target price on Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a research report on Friday, April 10th. Needham & Company LLC upped their target price on Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $185.00 target price on shares of Constellation Brands in a research report on Friday, April 10th. UBS Group upped their target price on Constellation Brands from $176.00 to $186.00 and gave the company a “buy” rating in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a research report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.26.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.