Tredje AP fonden Sells 30,000 Shares of Constellation Brands Inc $STZ

Key Points

• Tredje AP fonden reduced its Constellation Brands stake by 14.1% in the fourth quarter, selling 30,000 shares and leaving it with 182,719 shares worth about $25.2 million.
• Institutional ownership remains heavy, with several major funds increasing positions; overall, 77.34% of STZ shares are held by institutions. The article also notes an insider sale by EVP James O. Bourdeau of 4,407 shares.
• Constellation Brands recently beat earnings and revenue expectations for the quarter and raised its dividend slightly to $1.03 per share. Analysts currently rate the stock a “Moderate Buy,” with an average price target of $175.37.

Tredje AP fonden trimmed its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 182,719 shares of the company's stock after selling 30,000 shares during the period. Tredje AP fonden owned 0.11% of Constellation Brands worth $25,208,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Ameriprise Financial Inc. lifted its holdings in Constellation Brands by 650.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company's stock valued at $287,889,000 after purchasing an additional 1,533,961 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Constellation Brands by 3.3% in the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company's stock valued at $2,451,346,000 after purchasing an additional 573,766 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in shares of Constellation Brands by 1,249.7% in the second quarter. Worldquant Millennium Advisors LLC now owns 476,702 shares of the company's stock valued at $77,550,000 after purchasing an additional 441,382 shares during the period. Hotchkis & Wiley Capital Management LLC raised its position in shares of Constellation Brands by 26.8% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,664,151 shares of the company's stock valued at $224,111,000 after purchasing an additional 351,241 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of Constellation Brands by 15.5% during the 3rd quarter. Van ECK Associates Corp now owns 2,160,202 shares of the company's stock worth $290,915,000 after buying an additional 290,701 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Activity at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $147.68 on Tuesday. 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 company has a market cap of $25.43 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 3.12 and a beta of 1.75. The company has a 50 day moving average of $152.68 and a 200-day moving average of $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 announced its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the firm posted $2.63 earnings per share. The firm's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, equities research analysts forecast that Constellation Brands Inc will post 11.9 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. Constellation Brands's dividend payout ratio is 42.96%.

Wall Street Analyst Weigh In

Several brokerages recently commented on STZ. Roth Mkm reaffirmed a "buy" rating on shares of Constellation Brands in a report on Thursday, April 9th. JPMorgan Chase & Co. increased their price target on shares of Constellation Brands from $155.00 to $163.00 and gave the company a "neutral" rating in a report on Wednesday, April 1st. Wells Fargo & Company raised their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Citigroup restated a "buy" rating on shares of Constellation Brands in a report on Monday. Finally, TD Cowen raised Constellation Brands from a "hold" rating to a "buy" rating and upped their target price for the company from $142.00 to $190.00 in a research report on Monday, April 13th. One investment 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 company. According to MarketBeat.com, Constellation Brands currently has an average rating of "Moderate Buy" and an average price target of $175.37.

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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