DNB Asset Management AS Has $8.50 Million Holdings in Constellation Brands Inc $STZ

Key Points

• DNB Asset Management AS cut its Constellation Brands stake by 12.5% in the fourth quarter, leaving it with 61,638 shares valued at about $8.5 million.
• Wall Street remains broadly positive on the stock: analysts’ consensus rating is Moderate Buy, with an average price target of $175.37.
• Constellation Brands recently beat quarterly expectations, posting $1.90 EPS on $1.92 billion in revenue, and it also raised its quarterly dividend to $1.03 per share.

DNB Asset Management AS lessened its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 12.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,638 shares of the company's stock after selling 8,811 shares during the quarter. DNB Asset Management AS's holdings in Constellation Brands were worth $8,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer Asset Management Inc. raised its stake in Constellation Brands by 329.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 73,323 shares of the company's stock valued at $9,874,000 after purchasing an additional 56,263 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its stake in Constellation Brands by 22.7% in the third quarter. Hudson Edge Investment Partners Inc. now owns 35,316 shares of the company's stock valued at $4,756,000 after purchasing an additional 6,542 shares in the last quarter. Nordea Investment Management AB raised its stake in Constellation Brands by 6.1% in the fourth quarter. Nordea Investment Management AB now owns 867,776 shares of the company's stock valued at $120,300,000 after purchasing an additional 49,625 shares in the last quarter. Cambiar Investors LLC raised its stake in Constellation Brands by 27.5% in the third quarter. Cambiar Investors LLC now owns 227,218 shares of the company's stock valued at $30,599,000 after purchasing an additional 48,954 shares in the last quarter. Finally, LSV Asset Management acquired a new position in Constellation Brands in the third quarter valued at about $33,018,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Piper Sandler lifted their target price on Constellation Brands from $146.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. Needham & Company LLC lifted their target price on Constellation Brands from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, April 10th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $185.00 target price on shares of Constellation Brands in a research report on Friday, April 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Constellation Brands in a research report on Monday, May 4th. Finally, Citigroup reiterated a "buy" rating on shares of Constellation Brands in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus price target of $175.37.

Constellation Brands Stock Performance

NYSE:STZ opened at $147.68 on Tuesday. The stock has a market cap of $25.43 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 3.12 and a beta of 0.43. 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's 50-day moving average is $152.68 and its 200-day moving average is $148.20. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $195.76.

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

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were issued a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. This is an increase from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is presently 42.96%.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business's stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president directly owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 12.45% of the company's stock.

About Constellation Brands

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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