Assenagon Asset Management S.A. Trims Stake in Constellation Brands Inc (NYSE:STZ)

Assenagon Asset Management S.A. decreased its stake in shares of Constellation Brands Inc (NYSE:STZ) by 94.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,822 shares of the company’s stock after selling 129,852 shares during the period. Assenagon Asset Management S.A.’s holdings in Constellation Brands were worth $1,435,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after acquiring an additional 1,821,969 shares during the last quarter. Capital World Investors lifted its holdings in Constellation Brands by 3.4% in the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after purchasing an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc acquired a new stake in shares of Constellation Brands during the 4th quarter worth about $1,242,976,000. Geode Capital Management LLC grew its holdings in shares of Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock worth $705,844,000 after buying an additional 63,323 shares in the last quarter. Finally, Capital Research Global Investors grew its holdings in shares of Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock worth $641,336,000 after buying an additional 18,557 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.4%

Shares of NYSE STZ opened at $160.55 on Wednesday. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of -314.81, a P/E/G ratio of 8.82 and a beta of 0.70. Constellation Brands Inc has a twelve month low of $159.91 and a twelve month high of $265.70. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The company’s fifty day moving average is $182.59 and its 200-day moving average is $189.92.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. Constellation Brands’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 EPS. Equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were issued a $1.02 dividend. The ex-dividend date was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s dividend payout ratio is -800.00%.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, April 11th. Deutsche Bank Aktiengesellschaft lowered their price target on Constellation Brands from $191.00 to $185.00 and set a “hold” rating for the company in a research report on Thursday, June 5th. CJS Securities dropped their price objective on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Jefferies Financial Group reduced their price target on Constellation Brands from $201.00 to $196.00 in a research report on Friday, April 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $215.00 price objective on shares of Constellation Brands in a research report on Thursday, April 10th. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $220.00.

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.