Erste Asset Management GmbH Purchases New Stake in Constellation Brands, Inc. (NYSE:STZ)

Erste Asset Management GmbH acquired a new position in Constellation Brands, Inc. (NYSE:STZ) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,850 shares of the company’s stock, valued at approximately $13,619,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of STZ. Swedbank AB purchased a new stake in Constellation Brands during the first quarter worth about $561,000. Cetera Investment Advisers boosted its stake in shares of Constellation Brands by 128.2% during the 1st quarter. Cetera Investment Advisers now owns 40,716 shares of the company’s stock worth $11,065,000 after acquiring an additional 22,870 shares in the last quarter. Cetera Advisors LLC grew its holdings in shares of Constellation Brands by 182.1% in the 1st quarter. Cetera Advisors LLC now owns 14,236 shares of the company’s stock worth $3,869,000 after acquiring an additional 9,190 shares during the period. DekaBank Deutsche Girozentrale increased its stake in Constellation Brands by 1.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 27,385 shares of the company’s stock valued at $7,383,000 after purchasing an additional 301 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in Constellation Brands by 8.9% during the second quarter. DNB Asset Management AS now owns 31,892 shares of the company’s stock worth $8,205,000 after purchasing an additional 2,611 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the topic of several research reports. TD Cowen lowered Constellation Brands from a “buy” rating to a “hold” rating and lowered their target price for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Barclays dropped their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, November 19th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $289.16.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Price Performance

Constellation Brands stock opened at $240.95 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The company has a market cap of $43.75 billion, a price-to-earnings ratio of 77.98, a PEG ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The firm has a 50 day moving average price of $241.72 and a 200 day moving average price of $246.71.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm posted $3.70 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands’s dividend payout ratio is currently 130.74%.

About Constellation Brands

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.