ASR Vermogensbeheer N.V. Acquires Shares of 47,161 Constellation Brands Inc (NYSE:STZ)

Key Points

• ASR Vermogensbeheer N.V. acquired 47,161 shares of Constellation Brands Inc, valued at approximately $8.65 million, marking a significant new investment in the company.
• Multiple hedge funds have increased their stakes in Constellation Brands, indicating growing institutional interest, with 77.34% of the stock now held by hedge funds and other institutional investors.
• Constellation Brands reported earnings of $3.22 per share for the last quarter, missing analysts' estimates, and their revenue declined by 5.5% compared to the same period last year.

ASR Vermogensbeheer N.V. acquired a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 47,161 shares of the company's stock, valued at approximately $8,655,000.

A number of other hedge funds have also recently modified their holdings of STZ. Harbor Capital Advisors Inc. boosted its stake in Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after purchasing an additional 815 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Constellation Brands by 137.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock worth $405,000 after acquiring an additional 1,274 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Constellation Brands by 28.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after acquiring an additional 1,651 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Constellation Brands by 7.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after acquiring an additional 1,185 shares during the period. Finally, Bessemer Group Inc. lifted its stake in shares of Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after acquiring an additional 65 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.45% of the company's stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $169.44 on Thursday. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. The firm has a 50 day moving average price of $169.41 and a 200 day moving average price of $177.00. The company has a market cap of $29.87 billion, a price-to-earnings ratio of -70.89, a PEG ratio of 10.33 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the previous year, the firm posted $3.57 earnings per share. Constellation Brands's revenue for the quarter was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's payout ratio is -170.71%.

Analyst Ratings Changes

Several research firms have recently commented on STZ. JPMorgan Chase & Co. raised their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Royal Bank Of Canada reduced their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Bank of America raised their price objective on shares of Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $213.74.

Constellation Brands 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.

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands Inc (NYSE:STZ - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.