Constellation Brands Inc $STZ Stock: Assenagon Asset Management S.A. Increases Stake

Assenagon Asset Management S.A. lifted its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 65.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 558,176 shares of the company's stock after buying an additional 220,004 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.33% of Constellation Brands worth $63,107,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. boosted its holdings in shares of Constellation Brands by 24.4% during the 3rd quarter. Retirement Planning Co of New England Inc. now owns 6,179 shares of the company's stock valued at $699,000 after purchasing an additional 1,213 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Constellation Brands by 4.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 14,234 shares of the company's stock worth $1,609,000 after acquiring an additional 569 shares during the last quarter. Chiron Capital Management LLC raised its holdings in shares of Constellation Brands by 82.3% during the 3rd quarter. Chiron Capital Management LLC now owns 6,201 shares of the company's stock worth $701,000 after acquiring an additional 2,800 shares in the last quarter. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of Constellation Brands by 1.6% in the third quarter. Fort Washington Investment Advisors Inc. OH now owns 267,833 shares of the company's stock valued at $30,281,000 after purchasing an additional 4,200 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Constellation Brands by 7.2% in the third quarter. Forvis Mazars Wealth Advisors LLC now owns 13,212 shares of the company's stock valued at $1,494,000 after purchasing an additional 893 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Up 1.3%

STZ stock opened at $131.27 on Friday. The company has a market capitalization of $22.21 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 2.65 and a beta of 0.44. Constellation Brands Inc has a 12 month low of $110.60 and a 12 month high of $168.60. The firm's fifty day simple moving average is $125.35 and its 200-day simple moving average is $137.30. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.00 and a quick ratio of 0.53.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Tuesday, October 6th. The company reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.62 by $0.12. Constellation Brands had a net margin of 19.57% and a return on equity of 24.75%. The firm had revenue of $2.63 billion during the quarter, compared to analysts' expectations of $2.54 billion. During the same quarter last year, the company posted $3.63 earnings per share. The firm's revenue was up 6.1% compared to the same quarter last year. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. As a group, equities research analysts forecast that Constellation Brands Inc will post 11.85 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 30th will be paid a $1.03 dividend. The ex-dividend date is Friday, October 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. Constellation Brands's dividend payout ratio is presently 36.95%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BNP Paribas Exane reduced their target price on shares of Constellation Brands from $115.00 to $110.00 and set an "underperform" rating on the stock in a report on Monday, September 21st. Bank of America dropped their price target on Constellation Brands from $152.00 to $145.00 and set an "underperform" rating for the company in a research report on Thursday, July 2nd. Freedom Capital cut Constellation Brands from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. BMO Capital Markets reissued an "outperform" rating on shares of Constellation Brands in a research note on Thursday, October 8th. Finally, Royal Bank Of Canada lowered their price objective on Constellation Brands from $185.00 to $182.00 and set an "outperform" rating for the company in a research note on Thursday, October 8th. Twelve investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of "Hold" and a consensus price target of $153.09.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, markets and distributes beer, wine and spirits. Its portfolio includes well-known beer brands such as Modelo Especial, Corona Extra, Corona Light and Pacifico, along with wine brands including Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company and Ruffino.

The company also offers spirits through brands such as Casa Noble tequila and High West whiskey. Constellation's products are sold through retailers, distributors, restaurants and other on-premise locations, with a primary focus on the United States.

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