Swedbank AB Boosts Holdings in Constellation Brands Inc $STZ

Key Points

• Swedbank AB boosted its stake in Constellation Brands by 108.1% in the fourth quarter, adding 32,757 shares and bringing its total holdings to 63,055 shares worth about $8.7 million.
• Constellation Brands reported better-than-expected quarterly earnings of $1.90 per share on revenue of $1.92 billion, though revenue still fell 11.3% from a year earlier.
• The company also raised its quarterly dividend to $1.03 per share, while analysts maintain a Moderate Buy consensus rating with an average price target of $176.30.

Swedbank AB raised its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 108.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,055 shares of the company's stock after acquiring an additional 32,757 shares during the quarter. Swedbank AB's holdings in Constellation Brands were worth $8,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Choreo LLC increased its holdings in Constellation Brands by 2.1% during the 4th quarter. Choreo LLC now owns 3,116 shares of the company's stock valued at $437,000 after acquiring an additional 63 shares in the last quarter. Dynamic Advisor Solutions LLC increased its holdings in Constellation Brands by 2.2% during the 4th quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company's stock valued at $484,000 after acquiring an additional 76 shares in the last quarter. Sigma Planning Corp increased its holdings in Constellation Brands by 4.0% during the 4th quarter. Sigma Planning Corp now owns 2,458 shares of the company's stock valued at $325,000 after acquiring an additional 95 shares in the last quarter. Shayne & Jacobs LLC increased its holdings in Constellation Brands by 6.9% during the 3rd quarter. Shayne & Jacobs LLC now owns 1,850 shares of the company's stock valued at $249,000 after acquiring an additional 120 shares in the last quarter. Finally, Raiffeisen Bank International AG increased its holdings in Constellation Brands by 57.8% during the 3rd quarter. Raiffeisen Bank International AG now owns 344 shares of the company's stock valued at $46,000 after acquiring an additional 126 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Constellation Brands stock opened at $148.00 on Friday. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $196.91. The stock has a market capitalization of $25.49 billion, a P/E ratio of 15.43, a P/E/G ratio of 3.25 and a beta of 1.75. The firm's 50-day moving average is $154.20 and its two-hundred day moving average is $147.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55.

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 (EPS) 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 period last year, the company earned $2.63 EPS. The firm's revenue for the quarter was down 11.3% compared to the same quarter last year. Equities analysts predict that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 29th will be given a $1.03 dividend. This is a boost from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Wednesday, April 29th. Constellation Brands's dividend payout ratio is 42.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on STZ shares. Wells Fargo & Company raised their target price on shares of Constellation Brands from $180.00 to $185.00 and gave the company an "overweight" rating in a report on Friday, April 10th. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $155.00 to $163.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 1st. Evercore set a $175.00 price target on shares of Constellation Brands and gave the stock an "outperform" rating in a research note on Friday, April 10th. Barclays raised their price target on shares of Constellation Brands from $151.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Friday, April 10th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $185.00 price target on shares of Constellation Brands in a research note on Friday, April 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.30.

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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