Constellation Brands Inc $STZ Shares Acquired by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management nearly doubled its stake in Constellation Brands in Q4, increasing holdings by 99.1% to 38,489 shares valued at about $5.31 million.
• Constellation Brands reported quarterly EPS of $1.90, topping analyst estimates, and revenue of $1.92 billion, though sales were still down 11.3% from a year earlier.
• The company raised its quarterly dividend to $1.03 per share from $1.02, while Wall Street currently has a Moderate Buy consensus and an average price target of $176.30.

Swiss Life Asset Management Ltd lifted its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 99.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,489 shares of the company's stock after buying an additional 19,161 shares during the period. Swiss Life Asset Management Ltd's holdings in Constellation Brands were worth $5,310,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Choreo LLC boosted its stake in shares of Constellation Brands by 2.1% during the fourth quarter. Choreo LLC now owns 3,116 shares of the company's stock worth $437,000 after buying an additional 63 shares during the period. Dynamic Advisor Solutions LLC boosted its stake in shares of Constellation Brands by 2.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company's stock worth $484,000 after buying an additional 76 shares during the period. Sigma Planning Corp boosted its stake in shares of Constellation Brands by 4.0% during the fourth quarter. Sigma Planning Corp now owns 2,458 shares of the company's stock worth $325,000 after buying an additional 95 shares during the period. Shayne & Jacobs LLC boosted its stake in shares of Constellation Brands by 6.9% during the third quarter. Shayne & Jacobs LLC now owns 1,850 shares of the company's stock worth $249,000 after buying an additional 120 shares during the period. Finally, Raiffeisen Bank International AG boosted its stake in shares of Constellation Brands by 57.8% during the third quarter. Raiffeisen Bank International AG now owns 344 shares of the company's stock worth $46,000 after buying an additional 126 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Trading Down 1.5%

Shares of Constellation Brands stock opened at $140.39 on Thursday. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $196.91. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The stock has a market cap of $24.18 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 3.13 and a beta of 0.43. The company has a 50-day moving average of $153.16 and a two-hundred day moving average of $148.07.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the company posted $2.63 earnings per share. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. On average, research analysts anticipate that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be issued a $1.03 dividend. This represents a $4.12 dividend on an annualized basis and a yield of 2.9%. This is a boost from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 29th. Constellation Brands's dividend payout ratio is 42.96%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction dated Tuesday, May 12th. The shares were 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 directly owned 9,109 shares of the company's stock, valued at approximately $1,304,773.16. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STZ. Wells Fargo & Company increased their target price on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Constellation Brands from $154.00 to $155.00 and gave the company a "hold" rating in a research report on Friday, April 10th. Royal Bank Of Canada restated an "outperform" rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Friday, April 10th. Barclays raised their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. Finally, Piper Sandler raised their price objective on shares of Constellation Brands from $146.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average price target of $176.30.

Constellation Brands Company Profile

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.

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