Norges Bank bought a new stake in Constellation Brands, Inc. (NYSE: STZ – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,480,465 shares of the company stock, valued at approximately $ 371,552,000. Norges Bank owned 0.78% of Constellation Brands at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in STZ. Capital World Investors raised its holdings in Constellation Brands by 28.7% in the fourth quarter. Capital World Investors now owns 8,810,424 shares of the company stock valued at $ 2,211,152,000 after acquiring an additional 1,967,115 shares in the last quarter. Alliancebernstein LP raised its holdings in Constellation Brands by 48.6% in the fourth quarter. Alliancebernstein LP now owns 2,885,267 shares of the company stock valued at $ 724,116,000 after acquiring an additional 943,872 shares in the last quarter. Scharf Investments LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $ 87,917,000. Janus Henderson Group PLC raised its holdings in Constellation Brands by 9.4% in the third quarter. Janus Henderson Group PLC now owns 2,195,652 shares of the company stock valued at $ 462,603,000 after acquiring an additional 188,410 shares in the last quarter. Finally, Cambiar Investors LLC acquired a new stake in Constellation Brands in the fourth quarter valued at $ 38,955,000. Institutional investors and hedge funds own 74.99% of the company stock.
In other news, Director Jeremy SG Fowden sold 7,574 shares of the firm’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $ 240.38, for a total transaction of $ 1,820,638.12. Following the completion of the transaction, the director now owns 18,501 shares in the company, valued at approximately $ 4,447,270.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 3,787 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $ 254.00, for a total transaction of $ 961,898.00. Following the transaction, the chief executive officer now owns 14,798 shares of the company stock, valued at approximately $ 3,758,692. The disclosure for this sale can be found here. Insiders sold a total of 25,822 shares of company stock valued at $ 6,451,256 in the last quarter. 16.19% of the stock is currently owned by insiders.
Shares of STZ opened at $ 227.70 on Monday. The firm has a 50-day moving average price of $ 244.96 and a 200 day moving average price of $ 237.46. The firm has a market capitalization of $ 42.86 billion, a PE ratio of -1,265.00, a P / E / G ratio of 1.89 and a beta of 1.06. The company has a quick ratio of 0.65, a current ratio of 1.23 and a debt-to-equity ratio of 0.79. Constellation Brands, Inc. has a 52-week low of $ 207.35 and a 52-week high of $ 261.52.
Constellation Brands (NYSE: STZ – Get Rating) last announced its earnings results on Thursday, April 7th. The company reported $ 2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $ 2.15 by $ 0.22. The firm had revenue of $ 2.10 billion during the quarter, compared to analyst estimates of $ 2.02 billion. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. Constellation Brands’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $ 1.82 EPS. On average, equities analysts expect that Constellation Brands, Inc. will post 11.18 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Thursday, May 5th were given a $ 0.80 dividend. This represents a $ 3.20 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Wednesday, May 4th. This is a positive change from Constellation Brands’s previous quarterly dividend of $ 0.14. Constellation Brands’s dividend payout ratio is currently -1,777.78%.
Several research firms recently issued reports on STZ. JPMorgan Chase & Co. cut their price target on shares of Constellation Brands from $ 278.00 to $ 276.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Constellation Brands from $ 240.00 to $ 250.00 and gave the stock a “hold” rating in a report on Friday, April 8th. Truist Financial increased their target price on shares of Constellation Brands from $ 213.00 to $ 245.00 and gave the stock a “hold” rating in a report on Friday, April 8th. Credit Suisse Group increased their target price on shares of Constellation Brands from $ 278.00 to $ 295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th. Finally, Morgan Stanley dropped their target price on shares of Constellation Brands from $ 299.00 to $ 294.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $ 270.13.
About Constellation Brands: (Get Rating)
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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.
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