DnB Asset Management AS Has $7.99 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

DnB Asset Management AS raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,173 shares of the company’s stock after purchasing an additional 2,968 shares during the period. DnB Asset Management AS’s holdings in Constellation Brands were worth $7,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mainstream Capital Management LLC acquired a new position in Constellation Brands in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the 4th quarter valued at $26,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Constellation Brands in the 4th quarter valued at $27,000. Union Bancaire Privee UBP SA bought a new position in shares of Constellation Brands in the 4th quarter worth $28,000. Finally, Versant Capital Management Inc boosted its position in shares of Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 0.3 %

Constellation Brands stock opened at $183.69 on Friday. The company has a fifty day simple moving average of $177.19 and a 200 day simple moving average of $214.74. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The company has a market cap of $33.20 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.19 EPS. Research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STZ. Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and cut their target price for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Truist Financial cut their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Finally, TD Cowen decreased their price target on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Company 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.