Constellation Brands, Inc. (NYSE:STZ) Shares Sold by DnB Asset Management AS

DnB Asset Management AS decreased its position in Constellation Brands, Inc. (NYSE:STZGet Rating) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,782 shares of the company’s stock after selling 185 shares during the period. DnB Asset Management AS’s holdings in Constellation Brands were worth $6,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Equitable Holdings Inc. acquired a new stake in shares of Constellation Brands during the fourth quarter worth about $236,000. Advisor Resource Council acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $472,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of Constellation Brands by 6.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,154 shares of the company’s stock valued at $290,000 after acquiring an additional 65 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Constellation Brands by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,551,818 shares of the company’s stock worth $638,398,000 after acquiring an additional 9,302 shares during the period. Finally, Alberta Investment Management Corp purchased a new position in shares of Constellation Brands during the fourth quarter worth $3,627,000. Institutional investors and hedge funds own 73.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on STZ. Morgan Stanley upped their price target on shares of Constellation Brands from $294.00 to $298.00 and gave the company an “overweight” rating in a report on Tuesday, June 21st. Barclays lifted their price target on Constellation Brands from $272.00 to $281.00 and gave the company an “overweight” rating in a research report on Tuesday, July 5th. BMO Capital Markets started coverage on Constellation Brands in a research report on Tuesday, August 2nd. They issued an “outperform” rating and a $290.00 price objective on the stock. StockNews.com raised shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Constellation Brands from $248.00 to $240.00 and set a “hold” rating on the stock in a report on Friday, July 1st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $272.88.

Constellation Brands Stock Down 0.3 %

Constellation Brands stock opened at $239.90 on Monday. The company has a market capitalization of $44.33 billion, a PE ratio of 36.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. Constellation Brands, Inc. has a fifty-two week low of $207.59 and a fifty-two week high of $261.52. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.70 and a current ratio of 1.40. The firm has a 50 day moving average price of $245.81 and a 200 day moving average price of $240.82.

Constellation Brands (NYSE:STZGet Rating) last released its quarterly earnings data on Thursday, June 30th. The company reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. Constellation Brands had a net margin of 12.72% and a return on equity of 17.19%. The company had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter in the prior year, the firm posted $2.33 earnings per share. Constellation Brands’s revenue for the quarter was up 16.6% on a year-over-year basis. Research analysts expect that Constellation Brands, Inc. will post 11.09 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Tuesday, August 9th. Constellation Brands’s dividend payout ratio is presently 48.34%.

Insider Buying and Selling at Constellation Brands

In related news, insider Robert Sands sold 1,427,799 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the sale, the insider now directly owns 550,214 shares in the company, valued at $133,597,461.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Garth Hankinson sold 2,270 shares of Constellation Brands stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $255.92, for a total transaction of $580,938.40. Following the transaction, the chief financial officer now owns 7,176 shares in the company, valued at approximately $1,836,481.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Sands sold 1,427,799 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $346,683,875.19. Following the completion of the sale, the insider now owns 550,214 shares of the company’s stock, valued at $133,597,461.34. The disclosure for this sale can be found here. In the last three months, insiders sold 1,619,248 shares of company stock worth $393,239,506. Insiders own 16.19% of the company’s stock.

Constellation Brands Profile

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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