Constellation Brands Inc (NYSE:STZ) Shares Sold by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Constellation Brands by 16.8%, now holding 20,279 shares worth approximately $3.72 million.
• Constellation Brands recently reported earnings per share (EPS) of $3.22 for the last quarter, missing analysts' expectations and showing a 5.5% decrease in revenue year-over-year.
• Equities research analysts have rated the stock with a consensus of "Moderate Buy", with a target price averaging $213.74, reflecting optimistic outlooks despite recent trading fluctuations.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 16.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,279 shares of the company's stock after selling 4,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Constellation Brands were worth $3,722,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Piscataqua Savings Bank raised its position in shares of Constellation Brands by 1.7% in the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after buying an additional 62 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Constellation Brands by 5.8% in the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock valued at $207,000 after purchasing an additional 62 shares during the period. World Investment Advisors grew its holdings in Constellation Brands by 1.7% in the first quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after purchasing an additional 62 shares during the period. Moody National Bank Trust Division grew its holdings in Constellation Brands by 0.9% in the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after purchasing an additional 64 shares during the period. Finally, Bessemer Group Inc. grew its holdings in Constellation Brands by 3.0% in the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction 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 in the company, valued at $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.45% of the stock is owned by company insiders.

Constellation Brands Trading Down 0.7%

NYSE STZ opened at $168.26 on Friday. The company's fifty day simple moving average is $168.67 and its 200-day simple moving average is $176.35. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $261.06. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a market cap of $29.66 billion, a P/E ratio of -70.40, a PEG ratio of 10.18 and a beta of 0.67.

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

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were paid 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 was Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the company from $194.00 to $205.00 in a report on Monday, July 7th. Piper Sandler boosted their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their target price on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Barclays set a $202.00 price objective on shares of Constellation Brands and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Constellation Brands Company 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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