Constellation Brands Inc (NYSE:STZ) Shares Purchased by Tredje AP fonden

Key Points

• Tredje AP fonden increased its holdings in Constellation Brands Inc by 81.2% in Q1, acquiring a total of 243,546 shares valued at approximately $44.7 million.
• Several hedge funds, including Rakuten Securities Inc, have also increased their stakes in Constellation Brands, with hedge funds now holding 77.34% of the company's stock.
• Constellation Brands announced a quarterly dividend of $1.02 per share, which will be paid out to shareholders on August 14th, contributing to an annualized dividend yield of 2.32%.

Tredje AP fonden lifted its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 81.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 243,546 shares of the company's stock after buying an additional 109,170 shares during the quarter. Tredje AP fonden owned approximately 0.14% of Constellation Brands worth $44,696,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Minot DeBlois Advisors LLC purchased a new position in Constellation Brands during the 4th quarter worth $29,000. Optiver Holding B.V. purchased a new position in shares of Constellation Brands during the fourth quarter valued at $31,000. Laurel Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the first quarter valued at about $32,000. Rakuten Securities Inc. raised its holdings in shares of Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new stake in Constellation Brands in the fourth quarter worth about $44,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Down 0.5%

Constellation Brands stock traded down $0.79 during trading on Friday, hitting $166.25. The company had a trading volume of 1,631,018 shares, compared to its average volume of 2,467,665. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The company's 50 day simple moving average is $170.55 and its 200-day simple moving average is $177.38. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of -69.56, a price-to-earnings-growth ratio of 10.38 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business's revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.57 earnings per share. As a group, analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.5%. Constellation Brands's dividend payout ratio is -170.71%.

Analysts Set New Price Targets

A number of research analysts have commented on STZ shares. CJS Securities cut their target price on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. DA Davidson lowered their price target on Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. The Goldman Sachs Group set a $225.00 price target on Constellation Brands and gave the stock a "buy" rating in a research report on Friday, June 27th. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and upped their price objective for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. Finally, Roth Mkm dropped their target price on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research report on Thursday, April 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is owned by corporate insiders.

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.