ICICI Prudential Asset Management Co Ltd Takes Position in Constellation Brands, Inc. (NYSE:STZ)

ICICI Prudential Asset Management Co Ltd bought a new position in Constellation Brands, Inc. (NYSE:STZ - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,000 shares of the company's stock, valued at approximately $4,420,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its holdings in shares of Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after buying an additional 876,745 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after buying an additional 497,543 shares during the period. State Street Corp boosted its holdings in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company's stock valued at $1,841,048,000 after buying an additional 402,211 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Constellation Brands by 66.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company's stock valued at $81,762,000 after buying an additional 147,457 shares during the period. Finally, NFJ Investment Group LLC boosted its holdings in shares of Constellation Brands by 617.3% in the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company's stock valued at $27,929,000 after buying an additional 93,273 shares during the period. Institutional investors own 77.34% of the company's stock.

Insider Buying and Selling

In other news, Director William T. Giles purchased 1,000 shares of the business's stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares of the company's stock, valued at $272,688.57. The trade was 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. Insiders own 12.19% of the company's stock.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $3.67 during trading on Friday, reaching $176.00. The company had a trading volume of 3,913,518 shares, compared to its average volume of 2,880,011. The firm's fifty day moving average is $195.56 and its 200 day moving average is $226.30. The firm has a market capitalization of $31.81 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

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

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.30%. Constellation Brands's payout ratio is currently 108.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STZ shares. Argus lowered shares of Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Evercore ISI decreased their price target on shares of Constellation Brands from $300.00 to $250.00 and set an "outperform" rating for the company in a report on Monday, January 13th. BNP Paribas initiated coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a "neutral" rating and a $261.00 target price for the company. Truist Financial reduced their target price on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $293.00 target price on shares of Constellation Brands in a research note on Monday, February 3rd. Ten analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $254.29.

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.