Short Interest in Constellation Brands, Inc. (NYSE:STZ) Increases By 58.3%

Constellation Brands, Inc. (NYSE:STZ) was the recipient of a significant growth in short interest in 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 days-to-cover ratio is presently 1.5 days. Approximately 2.9% of the shares of the company are short sold.

Analyst Ratings Changes

Several analysts recently commented on STZ shares. Truist Financial dropped their price target on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. Roth Capital dropped their target price on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. BNP Paribas began coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price on the stock. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Finally, Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $252.81.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several large investors have recently made changes to their positions in the stock. Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Constellation Brands in the 4th quarter worth approximately $11,569,000. Audent Global Asset Management LLC increased its stake in Constellation Brands by 165.5% during the 4th quarter. Audent Global Asset Management LLC now owns 3,427 shares of the company’s stock worth $757,000 after buying an additional 2,136 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Constellation Brands during the 4th quarter worth approximately $22,028,000. Jefferies Financial Group Inc. purchased a new stake in Constellation Brands during the 4th quarter worth approximately $944,000. Finally, Great Valley Advisor Group Inc. increased its stake in Constellation Brands by 4.4% during the 4th quarter. Great Valley Advisor Group Inc. now owns 21,652 shares of the company’s stock worth $4,785,000 after buying an additional 907 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Trading Down 0.1 %

NYSE:STZ traded down $0.13 on Friday, hitting $181.46. The stock had a trading volume of 1,650,539 shares, compared to its average volume of 1,539,634. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The stock has a market cap of $32.79 billion, a price-to-earnings ratio of 48.78, a PEG ratio of 1.52 and a beta of 1.75. The company has a fifty day moving average price of $180.58 and a two-hundred day moving average price of $219.08. Constellation Brands has a 1-year low of $160.46 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last issued 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 return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the company posted $3.19 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. Equities research analysts expect that Constellation Brands will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. Constellation Brands’s dividend payout ratio is currently 108.60%.

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.