Malaga Cove Capital LLC Raises Position in Constellation Brands, Inc. (STZ)

Malaga Cove Capital LLC lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 116.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,932 shares of the company’s stock after purchasing an additional 2,119 shares during the quarter. Malaga Cove Capital LLC’s holdings in Constellation Brands were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Truewealth LLC lifted its holdings in shares of Constellation Brands by 467.9% during the 4th quarter. Truewealth LLC now owns 159 shares of the company’s stock worth $26,000 after acquiring an additional 131 shares during the last quarter. City Holding Co. purchased a new position in Constellation Brands in the 4th quarter worth $31,000. Ledyard National Bank purchased a new position in Constellation Brands in the 4th quarter worth $31,000. We Are One Seven LLC purchased a new position in Constellation Brands in the 4th quarter worth $32,000. Finally, Quantamental Technologies LLC purchased a new position in Constellation Brands in the 4th quarter worth $32,000. 73.55% of the stock is currently owned by institutional investors.

STZ has been the topic of a number of analyst reports. Argus decreased their target price on shares of Constellation Brands from $260.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, January 11th. Pivotal Research reiterated a “buy” rating and issued a $265.00 target price (down previously from $300.00) on shares of Constellation Brands in a research report on Wednesday, January 9th. Goldman Sachs Group upgraded shares of Constellation Brands from a “neutral” rating to a “buy” rating and set a $211.00 target price on the stock in a research report on Thursday, January 10th. HSBC upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Finally, Jefferies Financial Group restated a “buy” rating and issued a $258.00 price objective on shares of Constellation Brands in a research report on Wednesday, January 16th. Eleven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $223.13.

In other news, EVP David Eric Klein sold 25,980 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $198.66, for a total value of $5,161,186.80. Following the transaction, the executive vice president now owns 69,852 shares in the company, valued at $13,876,798.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Barry A. Fromberg sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $174.72, for a total transaction of $262,080.00. Following the completion of the transaction, the director now owns 18,240 shares in the company, valued at approximately $3,186,892.80. The disclosure for this sale can be found here. Insiders have sold 30,551 shares of company stock worth $6,007,002 in the last three months. 15.80% of the stock is currently owned by insiders.

NYSE:STZ opened at $211.40 on Friday. Constellation Brands, Inc. has a one year low of $150.37 and a one year high of $234.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.49 and a current ratio of 1.16. The stock has a market cap of $40.14 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 2.90 and a beta of 0.53.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, April 4th. The company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.72 by $0.12. Constellation Brands had a net margin of 38.67% and a return on equity of 15.63%. The business had revenue of $1.80 billion for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Constellation Brands’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 8.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.00 annualized dividend and a yield of 1.42%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.74. Constellation Brands’s payout ratio is presently 10.02%.

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Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company sells wine across various categories, including table wine, sparkling wine, and dessert wine. It provides beer primarily under the Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Obregon Brewery, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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