Norges Bank Purchases New Stake in Constellation Brands, Inc. (NYSE:STZ)

Norges Bank acquired a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,017,572 shares of the company’s stock, valued at approximately $445,883,000. Norges Bank owned about 1.12% of Constellation Brands at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in STZ. Mainstream Capital Management LLC acquired a new position in Constellation Brands in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands during the 4th quarter worth approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $28,000. Finally, Versant Capital Management Inc raised its position in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after acquiring an additional 142 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other news, Director William T. Giles purchased 1,000 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 0.3 %

NYSE STZ opened at $183.69 on Friday. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87. The company has a market capitalization of $33.20 billion, a P/E ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75. The company’s 50 day simple moving average is $177.19 and its 200 day simple moving average is $214.99. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) 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 quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $3.19 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on STZ shares. Argus downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price target on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Truist Financial reduced their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Citigroup lowered Constellation Brands from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. Finally, Barclays reduced their price target on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price 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.