Constellation Brands, Inc. (STZ) Beats Earnings and Revenue Expectations

As stated earlier, at the end of the first quarter, a total of 62 of the hedge funds tracked by Insider Monkey were long in Constellation Brands, a change of 2% from the previous quarter. Kensico Capital, managed by Michael Lowenstein, holds the largest stake of 6.73 million shares valued at $782.62 million. Coming in second is Eagle Capital Management, managed by Boykin Curry, with 5.59 million shares. Other funds that hold long positions include Alan Fournier’s Pennant Capital Management, Dan Loeb’s Third Point and D. E. Shaw’s D E Shaw.

In addition, several hedge funds initiated new stakes in Constellation Brands, including Passport Capital, managed by John Burbank, which added 527,700 shares, while Gabriel Plotkin’s Melvin Capital Management also initiated a stake with 185,000 shares.

With a positive hedge fund sentiment, better-than-expected quarterly results, and growing share prices, Constellation Brands’s stock has an upside potential, which is why we consider the company worth investing in.

Disclosure: None