Shorepoint Capital Partners LLC Invests $1.62 Million in Constellation Brands Inc $STZ

Shorepoint Capital Partners LLC purchased a new stake in Constellation Brands Inc (NYSE:STZ) during the 3rd quarter, Holdings Channel reports. The firm purchased 12,044 shares of the company’s stock, valued at approximately $1,622,000.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of 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 last quarter. Public Sector Pension Investment Board increased its position in Constellation Brands by 9.0% during the 1st quarter. Public Sector Pension Investment Board now owns 20,157 shares of the company’s stock worth $3,699,000 after purchasing an additional 1,672 shares in the last quarter. Horizon Investments LLC raised its stake in Constellation Brands by 3.9% in the 1st quarter. Horizon Investments LLC now owns 2,723 shares of the company’s stock valued at $497,000 after purchasing an additional 103 shares during the last quarter. Aberdeen Group plc raised its stake in Constellation Brands by 93.0% in the 1st quarter. Aberdeen Group plc now owns 131,748 shares of the company’s stock valued at $24,156,000 after purchasing an additional 63,481 shares during the last quarter. Finally, Cresset Asset Management LLC lifted its holdings in Constellation Brands by 846.6% in the 1st quarter. Cresset Asset Management LLC now owns 51,701 shares of the company’s stock valued at $9,488,000 after purchasing an additional 46,239 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Constellation Brands stock opened at $143.11 on Tuesday. The firm has a market capitalization of $25.05 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 0.44 and a beta of 0.46. Constellation Brands Inc has a one year low of $126.45 and a one year high of $240.32. The stock’s 50 day moving average price is $136.50 and its 200 day moving average price is $151.95. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The company had revenue of $2.32 billion for the quarter. As a group, sell-side analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio is presently 59.56%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on STZ. Sanford C. Bernstein cut their price target on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Piper Sandler dropped their price target on shares of Constellation Brands from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. TD Cowen cut their price target on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a research note on Thursday, September 4th. Zacks Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Jefferies Financial Group reduced their target price on Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $181.96.

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.