Assenagon Asset Management S.A. grew its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 197.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,172 shares of the company's stock after acquiring an additional 224,578 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of Constellation Brands worth $47,036,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Capital International Investors boosted its holdings in shares of Constellation Brands by 48.5% during the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company's stock worth $888,930,000 after purchasing an additional 2,105,546 shares during the last quarter. Norges Bank acquired a new stake in Constellation Brands in the 4th quarter worth about $267,798,000. Ameriprise Financial Inc. grew its holdings in Constellation Brands by 650.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company's stock valued at $287,889,000 after buying an additional 1,533,961 shares during the period. Wellington Management Group LLP grew its holdings in Constellation Brands by 14.0% in the 4th quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company's stock valued at $830,333,000 after buying an additional 739,393 shares during the period. Finally, Pzena Investment Management LLC acquired a new position in shares of Constellation Brands during the 4th quarter valued at about $81,381,000. Institutional investors and hedge funds own 77.34% of the company's stock.
Constellation Brands Stock Up 2.3%
Shares of NYSE:STZ opened at $135.63 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.06. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $174.32. The company has a 50 day moving average of $136.42 and a two-hundred day moving average of $147.94. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 4.22 and a beta of 0.40.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, June 30th. The company reported $3.43 EPS for the quarter, missing analysts' consensus estimates of $3.70 by ($0.27). Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the firm posted $3.22 earnings per share. The company's revenue for the quarter was down 3.3% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. As a group, analysts forecast that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.
Constellation Brands Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be paid a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, July 30th. Constellation Brands's dividend payout ratio is 39.31%.
Insiders Place Their Bets
In other news, EVP James O. Bourdeau sold 4,407 shares of the company's 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 sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 12.20% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on STZ. Wells Fargo & Company reduced their target price on Constellation Brands from $185.00 to $170.00 and set an "overweight" rating on the stock in a report on Monday, June 29th. Freedom Capital downgraded Constellation Brands from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $169.00 to $165.00 and set a "neutral" rating on the stock in a research note on Thursday, July 2nd. TD Cowen reiterated a "buy" rating and set a $174.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 1st. Finally, Bank of America dropped their price objective on shares of Constellation Brands from $152.00 to $145.00 and set an "underperform" rating for the company in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of "Hold" and an average target price of $167.53.
Read Our Latest Analysis on Constellation Brands
About Constellation Brands
(
Free Report)
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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