Dark Forest Capital Management LP Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Dark Forest Capital Management LP lifted its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 585.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,739 shares of the company's stock after acquiring an additional 5,756 shares during the period. Dark Forest Capital Management LP's holdings in Constellation Brands were worth $1,489,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in Constellation Brands in the 4th quarter worth about $445,883,000. Vanguard Group Inc. boosted its position in shares of Constellation Brands by 13.3% in 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 during the period. Van ECK Associates Corp boosted its position in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after acquiring an additional 876,745 shares during the period. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Constellation Brands by 42.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after acquiring an additional 736,780 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Constellation Brands during the 4th quarter worth approximately $105,766,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on STZ. Argus lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a research report on Tuesday, January 14th. Truist Financial decreased their target price on Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. Royal Bank of Canada dropped their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Piper Sandler cut shares of Constellation Brands from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $224.42.

Constellation Brands Trading Down 1.1 %

STZ traded down $2.14 on Friday, hitting $185.36. 1,054,280 shares of the company were exchanged, compared to its average volume of 1,707,774. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a fifty day simple moving average of $180.88 and a two-hundred day simple moving average of $204.85. The stock has a market capitalization of $33.50 billion, a PE ratio of 49.83, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter last year, the business earned $2.26 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. Sell-side analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.20%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, April 29th. Constellation Brands's dividend payout ratio is -800.00%.

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.