Constellation Brands Inc $STZ Shares Acquired by Empyrean Capital Partners LP

Empyrean Capital Partners LP increased its stake in Constellation Brands Inc (NYSE:STZ) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 586,700 shares of the company’s stock after purchasing an additional 135,700 shares during the quarter. Constellation Brands comprises about 2.8% of Empyrean Capital Partners LP’s portfolio, making the stock its 9th biggest holding. Empyrean Capital Partners LP owned 0.34% of Constellation Brands worth $80,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Stance Capital LLC acquired a new stake in Constellation Brands in the third quarter worth about $26,000. GoalVest Advisory LLC bought a new stake in Constellation Brands in the fourth quarter worth about $28,000. Elyxium Wealth LLC bought a new stake in Constellation Brands in the fourth quarter worth about $33,000. GW&K Investment Management LLC raised its position in Constellation Brands by 58.9% in the fourth quarter. GW&K Investment Management LLC now owns 267 shares of the company’s stock worth $37,000 after acquiring an additional 99 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in Constellation Brands in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Evercore set a $175.00 price target on shares of Constellation Brands and gave the stock an “outperform” rating in a research report on Friday, April 10th. Piper Sandler boosted their price target on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. TD Cowen upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and boosted their price target for the stock from $142.00 to $190.00 in a research report on Monday, April 13th. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Constellation Brands from $155.00 to $163.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.68.

Constellation Brands Price Performance

Shares of STZ opened at $138.79 on Thursday. The company has a market capitalization of $23.90 billion, a price-to-earnings ratio of 14.47, a P/E/G ratio of 3.38 and a beta of 0.39. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $178.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. The business’s 50-day moving average is $149.38 and its 200-day moving average is $150.14.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.63 EPS. Equities research analysts expect that Constellation Brands Inc will post 11.87 EPS for the current fiscal year.

Constellation Brands Increases Dividend

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

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president owned 9,109 shares of the company’s stock, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.20% of the stock is owned by insiders.

About Constellation Brands

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.