Constellation Brands, Inc. (NYSE:STZ) Short Interest Update

Constellation Brands, Inc. (NYSE:STZ) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 4,020,000 shares, a growth of 58.3% from the February 13th total of 2,540,000 shares. Based on an average trading volume of 2,620,000 shares, the short-interest ratio is currently 1.5 days. Approximately 2.9% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on STZ shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Wells Fargo & Company cut their target price on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Royal Bank of Canada lowered their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday, March 7th. UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial lowered 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $252.81.

Insider Buying and Selling

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 12.19% of the company’s stock.

Institutional Trading of Constellation Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STZ. Berkshire Hathaway Inc purchased a new stake in Constellation Brands during the 4th quarter worth about $1,242,976,000. Norges Bank purchased a new position in shares of Constellation Brands during the fourth quarter worth approximately $445,883,000. Vanguard Group Inc. increased its stake in 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 purchasing an additional 1,821,969 shares during the period. D1 Capital Partners L.P. lifted its position in Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company’s stock worth $337,619,000 after acquiring an additional 994,639 shares during the period. Finally, Van ECK Associates Corp raised its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

STZ stock traded up $3.33 during mid-day trading on Monday, reaching $184.66. 423,157 shares of the company’s stock were exchanged, compared to its average volume of 1,535,359. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market cap of $33.37 billion, a price-to-earnings ratio of 49.63, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands has a 12-month low of $160.46 and a 12-month high of $274.87. The stock’s 50 day moving average is $180.58 and its 200 day moving average is $219.08.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the company posted $3.19 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, research analysts expect that Constellation Brands will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is 108.60%.

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.