Oxford Asset Management LLP Buys New Holdings in Constellation Brands, Inc. (NYSE:STZ)

Oxford Asset Management LLP acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,142 shares of the company’s stock, valued at approximately $694,000.

Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Constellation Brands in the fourth quarter worth about $445,883,000. Vanguard Group Inc. raised its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. boosted its holdings in Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock valued at $337,619,000 after acquiring an additional 994,639 shares in the last quarter. Van ECK Associates Corp increased its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Constellation Brands by 42.9% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after purchasing an additional 736,780 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $185.36 on Friday. The firm’s 50 day simple moving average is $180.88 and its two-hundred day simple moving average is $204.85. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market capitalization of $33.50 billion, a P/E ratio of 49.83, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the prior year, the business posted $2.26 EPS. Constellation Brands’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is -800.00%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays upped their target price on shares of Constellation Brands from $203.00 to $207.00 and gave the stock an “overweight” rating in a research report on Monday, April 14th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on Constellation Brands from $203.00 to $194.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Truist Financial cut their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Finally, Morgan Stanley decreased their target price on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $224.42.

Constellation Brands Profile

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.