Eurizon Capital SGR S.p.A. Acquires Shares of 29,559 Constellation Brands Inc $STZ

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ) in the 4th quarter, Holdings Channel.com reports. The fund acquired 29,559 shares of the company’s stock, valued at approximately $4,079,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hillsdale Investment Management Inc. bought a new position in shares of Constellation Brands during the 4th quarter valued at about $75,000. National Pension Service boosted its holdings in shares of Constellation Brands by 10.3% during the 4th quarter. National Pension Service now owns 295,008 shares of the company’s stock valued at $40,699,000 after purchasing an additional 27,441 shares during the last quarter. Rothschild Investment LLC boosted its holdings in shares of Constellation Brands by 224.6% during the 4th quarter. Rothschild Investment LLC now owns 448 shares of the company’s stock valued at $62,000 after purchasing an additional 310 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Constellation Brands by 18.9% during the 4th quarter. Intech Investment Management LLC now owns 23,279 shares of the company’s stock valued at $3,212,000 after purchasing an additional 3,699 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Constellation Brands by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company’s stock valued at $513,871,000 after purchasing an additional 54,184 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Roth Mkm reissued a “buy” rating on shares of Constellation Brands in a report on Thursday, April 9th. Barclays lifted their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Citigroup reissued a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. Piper Sandler lifted their price objective on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Finally, Wells Fargo & Company lifted their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.26.

Constellation Brands Price Performance

Constellation Brands stock opened at $136.39 on Tuesday. The stock has a market cap of $23.49 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 3.21 and a beta of 0.39. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.55. The firm has a 50-day moving average of $151.78 and a two-hundred day moving average of $149.31.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The firm’s quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.63 EPS. On average, research analysts forecast that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a $1.03 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 3.0%. Constellation Brands’s dividend payout ratio is presently 42.96%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Profile

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.