Assenagon Asset Management S.A. Buys 75,834 Shares of Constellation Brands Inc $STZ

Key Points

• Assenagon Asset Management S.A. significantly increased its holding in Constellation Brands by acquiring 75,834 shares, raising its stake by 969.5% and bringing its total ownership to 83,656 shares valued at approximately $13.6 million.
• Constellation Brands reported a loss in earnings per share of $3.22, missing estimates, while experiencing a revenue drop of 5.5% compared to the same quarter last year.
• The company recently declared a quarterly dividend of $1.02 per share, which reflects an annualized yield of 3.1%, although it has a negative dividend payout ratio of -170.71%.

Assenagon Asset Management S.A. lifted its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 969.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,656 shares of the company's stock after acquiring an additional 75,834 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Constellation Brands were worth $13,609,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in shares of Constellation Brands during the 1st quarter valued at approximately $32,000. Rakuten Securities Inc. boosted its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after purchasing an additional 161 shares during the period. Zions Bancorporation National Association UT bought a new position in Constellation Brands in the 1st quarter worth approximately $38,000. Flaharty Asset Management LLC bought a new position in Constellation Brands in the 1st quarter worth approximately $39,000. Finally, WPG Advisers LLC bought a new position in Constellation Brands in the 1st quarter worth approximately $43,000. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $133.52 on Tuesday. The stock's fifty day moving average is $160.22 and its two-hundred day moving average is $172.28. The company has a market capitalization of $23.54 billion, a PE ratio of -55.86, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52 week low of $131.82 and a 52 week high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business's revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $3.57 EPS. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. Constellation Brands's dividend payout ratio is presently -170.71%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on STZ shares. Deutsche Bank Aktiengesellschaft dropped their price target on Constellation Brands from $182.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday, September 3rd. Jefferies Financial Group dropped their price target on Constellation Brands from $205.00 to $179.00 and set a "buy" rating for the company in a research note on Wednesday, September 3rd. TD Cowen dropped their price target on Constellation Brands from $180.00 to $152.00 and set a "hold" rating for the company in a research note on Thursday, September 4th. Sanford C. Bernstein decreased their price objective on Constellation Brands from $225.00 to $195.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. Finally, BMO Capital Markets decreased their price objective on Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $192.28.

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.

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