Constellation Brands, Inc. (STZ): Hedge Funds Are Snapping Up

Now, key hedge funds were leading the bulls’ herd. Lone Pine Capital, managed by Stephen Mandel, assembled the largest position in Constellation Brands, Inc. (NYSE:STZ), worth $586.5 million as previously stated. David Gallo’s Valinor Management LLC also initiated a $103.3 million position during the quarter. The following funds were also among the new STZ investors: J Kevin Kenny Jr’s Emerging Sovereign Group, Dmitry Balyasny’s Balyasny Asset Management, and David Harding’s Winton Capital Management.

Let’s now review hedge fund activity in other stocks similar to Constellation Brands, Inc. (NYSE:STZ). These stocks are ICICI Bank Limited (ADR) (NYSE:IBN), Deere & Company (NYSE:DE), TE Connectivity Ltd. (NYSE:TEL), and Eaton Corp plc (NYSE:ETN). This group of stocks’ market valuations match STZ’s market valuation.

As you can see these stocks had an average of 35 hedge funds with bullish positions and the average amount invested in these stocks was $1.33 billion. That figure was a whooping $4.87 billion in STZ’s case. Eaton Corp plc (NYSE:ETN) is the most popular stock in this table, while TE Connectivity Ltd. (NYSE:TEL) is the laggard with only 28 bullish hedge fund positions. With 64 long hedge fund positions Constellation Brands, Inc. (NYSE:STZ) clearly steals the show. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.