Nordea Investment Management AB Buys 195,784 Shares of Constellation Brands Inc $STZ

Key Points

• Nordea Investment Management AB increased its stake in Constellation Brands Inc by 47.6%, acquiring an additional 195,784 shares, bringing its total ownership to 606,946 shares valued at approximately $98.5 million.
• Constellation Brands announced a quarterly dividend of $1.02 to be paid on November 13, 2023, resulting in a 2.9% yield.
• The stock currently has a market capitalization of $24.75 billion with a PE ratio of 20.50 and analysts anticipate an EPS of 13.5 for the current fiscal year.

Nordea Investment Management AB grew its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 47.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 606,946 shares of the company's stock after purchasing an additional 195,784 shares during the period. Nordea Investment Management AB owned approximately 0.34% of Constellation Brands worth $98,538,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of STZ. Zions Bancorporation National Association UT bought a new stake in shares of Constellation Brands during the 1st quarter valued at about $38,000. Flaharty Asset Management LLC bought a new stake in shares of Constellation Brands during the 1st quarter valued at about $39,000. Hoey Investments Inc. bought a new stake in shares of Constellation Brands during the 2nd quarter valued at about $40,000. WPG Advisers LLC bought a new stake in shares of Constellation Brands during the 1st quarter valued at about $43,000. Finally, Pinnacle Bancorp Inc. boosted its stake in shares of Constellation Brands by 45.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 278 shares of the company's stock valued at $51,000 after purchasing an additional 87 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Up 0.8%

Shares of Constellation Brands stock opened at $140.41 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The stock has a market capitalization of $24.75 billion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 0.42 and a beta of 1.75. Constellation Brands Inc has a 52-week low of $131.20 and a 52-week high of $245.31. The company has a 50-day simple moving average of $147.73 and a two-hundred day simple moving average of $166.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The business had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. On average, analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands's payout ratio is 59.56%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on STZ. BMO Capital Markets cut their target price on shares of Constellation Brands from $215.00 to $190.00 and set an "outperform" rating on the stock in a research note on Thursday, September 4th. Bank of America dropped their price objective on shares of Constellation Brands from $150.00 to $142.00 and set an "underperform" rating on the stock in a research note on Wednesday, September 3rd. Raymond James Financial raised shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Needham & Company LLC reissued a "buy" rating and set a $180.00 price objective on shares of Constellation Brands in a research note on Wednesday, October 8th. Finally, Cowen reissued a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $186.44.

Constellation Brands 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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