Renaissance Technologies LLC Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Renaissance Technologies LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,700 shares of the company's stock after purchasing an additional 25,800 shares during the period. Renaissance Technologies LLC owned 0.06% of Constellation Brands worth $24,686,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Bank of Nova Scotia raised its position in Constellation Brands by 3.4% during the 4th quarter. Bank of Nova Scotia now owns 21,091 shares of the company's stock valued at $4,661,000 after purchasing an additional 688 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Constellation Brands by 0.6% during the fourth quarter. Bank of Montreal Can now owns 308,956 shares of the company's stock valued at $68,279,000 after acquiring an additional 1,797 shares in the last quarter. Cerity Partners LLC increased its position in Constellation Brands by 3.8% during the 4th quarter. Cerity Partners LLC now owns 126,048 shares of the company's stock valued at $28,761,000 after purchasing an additional 4,594 shares during the period. FMR LLC increased its position in Constellation Brands by 18.3% during the 4th quarter. FMR LLC now owns 1,641,087 shares of the company's stock valued at $362,680,000 after purchasing an additional 253,740 shares during the period. Finally, Ilmarinen Mutual Pension Insurance Co raised its holdings in Constellation Brands by 12.5% in the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 13,500 shares of the company's stock worth $2,984,000 after purchasing an additional 1,500 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

NYSE:STZ traded up $3.55 during mid-day trading on Friday, reaching $186.58. The company's stock had a trading volume of 1,295,276 shares, compared to its average volume of 1,690,928. The firm's fifty day moving average price is $178.12 and its two-hundred day moving average price is $207.38. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market cap of $33.72 billion, a P/E ratio of 50.16, a PEG 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 quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.19%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's payout ratio is presently -800.00%.

Analysts Set New Price Targets

STZ has been the topic of several research analyst reports. StockNews.com cut shares of Constellation Brands from a "hold" rating to a "sell" rating in a research report on Thursday. Piper Sandler lowered Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Barclays raised their price objective on Constellation Brands from $203.00 to $207.00 and gave the company an "overweight" rating in a research report on Monday. Needham & Company LLC reaffirmed a "buy" rating and issued a $215.00 target price on shares of Constellation Brands in a research report on Thursday, April 10th. Finally, Roth Mkm decreased their price target on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. One investment 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.com, the company presently has an average rating of "Hold" and a consensus target price of $224.42.

Constellation Brands Company 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.