DNB Asset Management AS Sells 8,811 Shares of Constellation Brands Inc $STZ

DNB Asset Management AS cut its stake in Constellation Brands Inc (NYSE:STZ) by 12.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 61,638 shares of the company’s stock after selling 8,811 shares during the period. DNB Asset Management AS’s holdings in Constellation Brands were worth $8,504,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Constellation Brands in the third quarter valued at approximately $26,000. Stance Capital LLC bought a new stake in Constellation Brands in the third quarter valued at approximately $26,000. GoalVest Advisory LLC bought a new stake in Constellation Brands in the fourth quarter valued at approximately $28,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in Constellation Brands in the fourth quarter valued at approximately $39,000. Finally, CVA Family Office LLC boosted its holdings in Constellation Brands by 713.2% in the third quarter. CVA Family Office LLC now owns 309 shares of the company’s stock valued at $42,000 after acquiring an additional 271 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wells Fargo & Company upped their target price on Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft upped their target price on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a report on Friday, April 10th. Weiss Ratings restated a “hold (c-)” rating on shares of Constellation Brands in a report on Monday, May 4th. Roth Mkm restated a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. Finally, Needham & Company LLC increased their price target on Constellation Brands from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average target price of $175.37.

Constellation Brands Price Performance

Constellation Brands stock opened at $147.68 on Tuesday. The stock has a market capitalization of $25.43 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 3.12 and a beta of 0.43. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $195.76. The stock’s 50 day moving average price is $152.68 and its two-hundred day moving average price is $148.20. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the prior year, the business earned $2.63 EPS. On average, equities analysts predict that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 29th. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s payout ratio is 42.96%.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 12.45% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.