Norges Bank Acquires Shares of 1,941,126 Constellation Brands Inc $STZ

Norges Bank acquired a new stake in Constellation Brands Inc (NYSE:STZ) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,941,126 shares of the company’s stock, valued at approximately $267,798,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Ameriprise Financial Inc. increased its holdings in shares of Constellation Brands by 650.6% in the second quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after purchasing an additional 1,533,961 shares during the period. Pzena Investment Management LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth $81,381,000. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 3.3% during the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock worth $2,451,346,000 after purchasing an additional 573,766 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of Constellation Brands by 1,249.7% during the second quarter. Worldquant Millennium Advisors LLC now owns 476,702 shares of the company’s stock worth $77,550,000 after purchasing an additional 441,382 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Constellation Brands by 26.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,664,151 shares of the company’s stock worth $224,111,000 after purchasing an additional 351,241 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on STZ shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. Roth Mkm reaffirmed a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. TD Cowen raised Constellation Brands from a “hold” rating to a “buy” rating and increased their price target for the stock from $142.00 to $190.00 in a report on Monday, April 13th. Piper Sandler increased their price target on Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. Finally, Bank of America decreased their price target on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $175.26.

Constellation Brands Trading Up 0.4%

NYSE:STZ opened at $136.86 on Wednesday. The stock has a fifty day moving average price of $151.78 and a two-hundred day moving average price of $149.31. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 3.15 and a beta of 0.39. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.55.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.19. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.Constellation Brands’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 earnings per share. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 11.89 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a yield of 3.0%. Constellation Brands’s dividend payout ratio (DPR) is currently 42.96%.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.