Bryce Point Capital LLC Takes $2.20 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Bryce Point Capital LLC purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,954 shares of the company's stock, valued at approximately $2,200,000. Constellation Brands comprises approximately 0.6% of Bryce Point Capital LLC's investment portfolio, making the stock its 3rd largest holding.

Other hedge funds have also bought and sold shares of the company. Allworth Financial LP raised its stake in Constellation Brands by 0.8% during the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after buying an additional 59 shares in the last quarter. BSW Wealth Partners increased its holdings in shares of Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock valued at $345,000 after acquiring an additional 63 shares during the last quarter. Philip James Wealth Mangement LLC raised its position in shares of Constellation Brands by 8.0% during the 4th quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock valued at $204,000 after acquiring an additional 68 shares in the last quarter. Oak Asset Management LLC lifted its stake in Constellation Brands by 0.4% during the fourth quarter. Oak Asset Management LLC now owns 17,611 shares of the company's stock worth $3,892,000 after purchasing an additional 71 shares during the last quarter. Finally, Barden Capital Management Inc. boosted its holdings in Constellation Brands by 1.3% in the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after purchasing an additional 72 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Constellation Brands Price Performance

NYSE:STZ traded down $7.70 during midday trading on Friday, hitting $173.79. 3,176,710 shares of the stock were exchanged, compared to its average volume of 1,647,030. The company has a market capitalization of $31.41 billion, a price-to-earnings ratio of 46.72, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87. The business has a 50-day moving average price of $177.14 and a two-hundred day moving average price of $212.55.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts' consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the company posted $3.19 earnings per share. Constellation Brands's revenue was down .3% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands's payout ratio is 108.60%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wells Fargo & Company dropped their target price on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a report on Wednesday. UBS Group dropped their price objective on shares of Constellation Brands from $265.00 to $223.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Morgan Stanley downgraded Constellation Brands from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $220.00 to $202.00 in a research note on Thursday, February 27th. TD Cowen dropped their price target on Constellation Brands from $270.00 to $260.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Finally, Roth Mkm cut their price target on Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $244.32.

Insiders Place Their Bets

In related news, Director William T. Giles bought 1,000 shares of the business's stock in a transaction dated Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares of the company's stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.19% of the stock is currently owned by company insiders.

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.