Constellation Brands, Inc. (NYSE:STZ) Sees Significant Increase in Short Interest

Constellation Brands, Inc. (NYSE:STZGet Rating) saw a significant growth in short interest in April. As of April 30th, there was short interest totalling 2,330,000 shares, a growth of 33.1% from the April 15th total of 1,750,000 shares. Based on an average daily volume of 976,500 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.5% of the shares of the stock are sold short.

Shares of Constellation Brands stock traded up $1.24 on Monday, hitting $250.16. 13,045 shares of the company’s stock traded hands, compared to its average volume of 1,033,296. The firm’s 50-day moving average price is $238.00 and its two-hundred day moving average price is $235.06. The stock has a market capitalization of $47.08 billion, a PE ratio of -1,382.89, a price-to-earnings-growth ratio of 2.06 and a beta of 1.07. Constellation Brands has a one year low of $207.35 and a one year high of $261.52. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 0.65.

Constellation Brands (NYSE:STZGet Rating) last issued its earnings results on Thursday, April 7th. The company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.10 by $0.27. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.82 EPS. On average, analysts forecast that Constellation Brands will post 11.18 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 19th. Shareholders of record on Thursday, May 5th will be given a dividend of $0.80 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Wednesday, May 4th. This represents a $3.20 annualized dividend and a dividend yield of 1.28%. Constellation Brands’s payout ratio is presently -516.67%.

Several research analysts have recently commented on STZ shares. Deutsche Bank Aktiengesellschaft boosted their target price on Constellation Brands from $240.00 to $250.00 and gave the stock a “hold” rating in a report on Friday, April 8th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $278.00 to $276.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. TheStreet raised Constellation Brands from a “c+” rating to a “b-” rating in a report on Thursday, April 28th. Zacks Investment Research downgraded Constellation Brands from a “hold” rating to a “sell” rating and set a $260.00 target price on the stock. in a report on Friday. Finally, Credit Suisse Group boosted their target price on Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $272.89.

In other Constellation Brands news, EVP James O. Bourdeau sold 12,860 shares of Constellation Brands stock in a transaction that occurred on Friday, April 22nd. The stock was sold at an average price of $254.24, for a total transaction of $3,269,526.40. Following the sale, the executive vice president now directly owns 1,628 shares of the company’s stock, valued at $413,902.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas Michael Kane sold 1,601 shares of Constellation Brands stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $249.34, for a total value of $399,193.34. Following the sale, the executive vice president now directly owns 4,692 shares in the company, valued at $1,169,903.28. The disclosure for this sale can be found here. Insiders have sold 25,822 shares of company stock worth $6,451,256 over the last ninety days. Company insiders own 15.64% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Capital World Investors increased its position in shares of Constellation Brands by 28.7% in the 4th quarter. Capital World Investors now owns 8,810,424 shares of the company’s stock valued at $2,211,152,000 after buying an additional 1,967,115 shares in the last quarter. Norges Bank bought a new stake in shares of Constellation Brands in the 4th quarter valued at $371,552,000. Alliancebernstein L.P. increased its position in shares of Constellation Brands by 48.6% in the 4th quarter. Alliancebernstein L.P. now owns 2,885,267 shares of the company’s stock valued at $724,116,000 after buying an additional 943,872 shares in the last quarter. Scharf Investments LLC bought a new stake in shares of Constellation Brands in the 4th quarter valued at $87,917,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Constellation Brands in the 3rd quarter valued at $68,144,000. Institutional investors own 74.99% of the company’s stock.

About Constellation Brands (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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