Bain Capital Public Equity Management II LLC Has $113.55 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Bain Capital Public Equity Management II LLC increased its stake in Constellation Brands, Inc. (NYSE:STZFree Report) by 37.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 502,658 shares of the company’s stock after buying an additional 136,627 shares during the period. Constellation Brands comprises about 6.4% of Bain Capital Public Equity Management II LLC’s investment portfolio, making the stock its 3rd largest position. Bain Capital Public Equity Management II LLC owned approximately 0.27% of Constellation Brands worth $113,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. State of Michigan Retirement System boosted its holdings in Constellation Brands by 0.9% in the first quarter. State of Michigan Retirement System now owns 44,558 shares of the company’s stock worth $10,065,000 after purchasing an additional 400 shares during the period. Maryland State Retirement & Pension System boosted its holdings in shares of Constellation Brands by 1.9% during the first quarter. Maryland State Retirement & Pension System now owns 11,987 shares of the company’s stock valued at $2,708,000 after acquiring an additional 219 shares during the period. ST Germain D J Co. Inc. boosted its holdings in shares of Constellation Brands by 105.4% during the fourth quarter. ST Germain D J Co. Inc. now owns 38,512 shares of the company’s stock valued at $4,467,000 after acquiring an additional 19,766 shares during the period. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Constellation Brands by 70.4% during the first quarter. ICICI Prudential Asset Management Co Ltd now owns 15,863 shares of the company’s stock valued at $3,574,000 after acquiring an additional 6,553 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Constellation Brands by 1.0% during the first quarter. Principal Financial Group Inc. now owns 188,055 shares of the company’s stock valued at $42,480,000 after acquiring an additional 1,870 shares during the period. Institutional investors and hedge funds own 88.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on STZ. Morgan Stanley boosted their price target on shares of Constellation Brands from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Monday, July 24th. Barclays reduced their price target on shares of Constellation Brands from $277.00 to $275.00 in a report on Wednesday, July 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Constellation Brands from $234.00 to $241.00 and gave the company a “hold” rating in a report on Wednesday, July 19th. BMO Capital Markets upped their price objective on shares of Constellation Brands from $265.00 to $290.00 and gave the stock an “outperform” rating in a report on Monday, July 3rd. Finally, Wells Fargo & Company upped their price objective on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $270.05.

Read Our Latest Report on Constellation Brands

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 49,425 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the transaction, the chief executive officer now owns 9,316 shares in the company, valued at approximately $2,495,756.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Garth Hankinson sold 1,550 shares of the company’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $267.96, for a total value of $415,338.00. Following the transaction, the chief financial officer now owns 9,491 shares in the company, valued at approximately $2,543,208.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $267.90, for a total value of $13,240,957.50. Following the completion of the sale, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at approximately $2,495,756.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 100,819 shares of company stock worth $27,054,755. Company insiders own 16.19% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $259.65 on Tuesday. The stock’s 50-day moving average price is $262.08 and its two-hundred day moving average price is $241.18. The company has a current ratio of 1.14, a quick ratio of 0.53 and a debt-to-equity ratio of 1.23. The company has a market cap of $47.60 billion, a PE ratio of -141.89, a PEG ratio of 1.95 and a beta of 1.75. Constellation Brands, Inc. has a 1 year low of $208.12 and a 1 year high of $273.65.

Constellation Brands (NYSE:STZGet Free Report) last posted its quarterly earnings data on Friday, June 30th. The company reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.08. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.66 EPS. On average, analysts predict that Constellation Brands, Inc. will post 11.62 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 10th were issued a dividend of $0.89 per share. The ex-dividend date of this dividend was Wednesday, August 9th. This represents a $3.56 annualized dividend and a yield of 1.37%. Constellation Brands’s payout ratio is presently -194.54%.

About Constellation Brands

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.

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

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