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

Bryce Point Capital LLC bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,954 shares of the company’s stock, valued at approximately $2,200,000. Constellation Brands comprises 0.6% of Bryce Point Capital LLC’s investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mainstream Capital Management LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the fourth quarter valued at $26,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Constellation Brands during the fourth quarter worth about $27,000. Union Bancaire Privee UBP SA acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the topic of several research analyst reports. Citigroup lowered Constellation Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and cut their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a research note on Monday, January 13th. Evercore ISI dropped their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $249.18.

Constellation Brands Trading Up 0.8 %

NYSE:STZ opened at $184.98 on Wednesday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year 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. The stock has a fifty day moving average price of $177.22 and a two-hundred day moving average price of $213.55. The stock has a market capitalization of $33.43 billion, a price-to-earnings ratio of 49.73, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) 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 company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the prior year, the business earned $3.19 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

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.