Constellation Brands, Inc. (NYSE:STZ) is Savoir Faire Capital Management L.P.’s 3rd Largest Position

Savoir Faire Capital Management L.P. increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 30,260 shares of the company’s stock after acquiring an additional 395 shares during the quarter. Constellation Brands makes up approximately 4.0% of Savoir Faire Capital Management L.P.’s holdings, making the stock its 3rd largest holding. Savoir Faire Capital Management L.P.’s holdings in Constellation Brands were worth $7,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. LMR Partners LLP increased its holdings in shares of Constellation Brands by 87.5% during the 3rd quarter. LMR Partners LLP now owns 37,500 shares of the company’s stock valued at $9,663,000 after purchasing an additional 17,502 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Constellation Brands by 13.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock valued at $1,892,000 after purchasing an additional 845 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Constellation Brands by 0.3% during the 3rd quarter. Mutual of America Capital Management LLC now owns 33,223 shares of the company’s stock valued at $8,561,000 after purchasing an additional 100 shares in the last quarter. Schear Investment Advisers LLC increased its holdings in shares of Constellation Brands by 12.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 4,141 shares of the company’s stock valued at $1,067,000 after purchasing an additional 444 shares in the last quarter. Finally, Natixis Advisors LLC increased its holdings in shares of Constellation Brands by 37.4% during the 3rd quarter. Natixis Advisors LLC now owns 113,393 shares of the company’s stock valued at $29,220,000 after purchasing an additional 30,862 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Trading Up 0.2 %

NYSE STZ opened at $238.06 on Tuesday. The firm’s 50-day moving average is $243.88 and its two-hundred day moving average is $247.90. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The stock has a market capitalization of $43.22 billion, a P/E ratio of 77.04, a PEG ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insiders Place Their Bets

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,296 shares of company stock worth $45,899,031 over the last three months. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on STZ shares. Truist Financial cut their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Evercore ISI cut their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, October 4th. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. BMO Capital Markets cut their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $290.47.

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.