Prudential PLC Has $9.50 Million Stake in Constellation Brands Inc $STZ

Key Points

• Prudential PLC cut its stake in Constellation Brands by 19.8% in the fourth quarter, leaving it with 68,857 shares valued at about $9.5 million.
• Constellation Brands reported quarterly EPS of $1.90, beating estimates, and revenue of $1.92 billion, also above forecasts, though sales were still down 11.3% year over year.
• The company raised its quarterly dividend to $1.03 per share, while analysts currently rate the stock a Moderate Buy with an average price target of $175.26.

Prudential PLC trimmed its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,857 shares of the company's stock after selling 16,971 shares during the period. Prudential PLC's holdings in Constellation Brands were worth $9,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STZ. Brighton Jones LLC raised its position in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after buying an additional 187 shares in the last quarter. Woodline Partners LP acquired a new stake in shares of Constellation Brands in the first quarter valued at approximately $2,409,000. Cary Street Partners Financial LLC raised its position in shares of Constellation Brands by 69.9% in the second quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company's stock valued at $167,000 after buying an additional 422 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company's stock valued at $2,822,000 after buying an additional 599 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company's stock valued at $3,861,000 after buying an additional 1,127 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $141.11 on Friday. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $178.13. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 3.19 and a beta of 0.39. The company's fifty day moving average is $150.69 and its 200 day moving average is $149.41.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $2.63 earnings per share. Constellation Brands's revenue for the quarter was down 11.3% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands Inc will post 11.87 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were paid a $1.03 dividend. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands's payout ratio is presently 42.96%.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on STZ. Deutsche Bank Aktiengesellschaft lifted their price target 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. Needham & Company LLC lifted their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the company a "buy" rating in a research report on Friday, April 10th. Citigroup reissued a "buy" rating on shares of Constellation Brands in a research note on Monday, May 18th. Morgan Stanley lifted their price objective on shares of Constellation Brands from $160.00 to $183.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Finally, Roth Mkm reissued a "buy" rating on shares of Constellation Brands in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and an average target price of $175.26.

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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