Hsbc Holdings PLC Grows Stake in Constellation Brands Inc $STZ

Hsbc Holdings PLC raised its position in shares of Constellation Brands Inc (NYSE:STZ) by 7.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,319 shares of the company’s stock after purchasing an additional 19,730 shares during the period. Hsbc Holdings PLC owned about 0.16% of Constellation Brands worth $37,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in STZ. Brighton Jones LLC lifted its stake in Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after acquiring an additional 187 shares during the period. Woodline Partners LP purchased a new position in Constellation Brands during the 1st quarter valued at about $2,409,000. Cary Street Partners Financial LLC raised its holdings in shares of Constellation Brands by 69.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock valued at $167,000 after purchasing an additional 422 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Constellation Brands by 3.6% in the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock valued at $2,822,000 after purchasing an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Constellation Brands by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after purchasing an additional 1,127 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Constellation Brands

In related 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 transaction of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 12.20% of the stock is owned by corporate insiders.

Constellation Brands Trading Up 1.5%

NYSE:STZ opened at $143.58 on Wednesday. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.13. The firm has a 50 day moving average of $148.07 and a 200 day moving average of $150.27. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $24.72 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 4.15 and a beta of 0.39.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same period in the previous year, the company earned $2.63 earnings per share. The business’s revenue for the quarter was down 11.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a dividend of $1.03 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is presently 42.96%.

Analysts Set New Price Targets

Several brokerages recently issued reports on STZ. Barclays lifted their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. JPMorgan Chase & Co. increased their target price on Constellation Brands from $155.00 to $163.00 and gave the company a “neutral” rating in a research report on Wednesday, April 1st. Royal Bank Of Canada reiterated an “outperform” rating and issued a $185.00 price target on shares of Constellation Brands in a report on Friday, April 10th. Morgan Stanley boosted their price target on Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Friday, April 10th. Finally, Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $173.53.

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.