OP Asset Management Ltd Buys Shares of 15,141 Constellation Brands Inc $STZ

OP Asset Management Ltd purchased a new position in shares of Constellation Brands Inc (NYSE:STZ) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,141 shares of the company’s stock, valued at approximately $2,271,000.

A number of other institutional investors also recently made changes to their positions in STZ. Capital World Investors increased its position in Constellation Brands by 8.3% during the 4th quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock worth $998,740,000 after purchasing an additional 553,974 shares in the last quarter. State Street Corp lifted its holdings in Constellation Brands by 5.0% in the 4th quarter. State Street Corp now owns 6,911,369 shares of the company’s stock valued at $953,492,000 after purchasing an additional 329,337 shares in the last quarter. Capital International Investors lifted its holdings in Constellation Brands by 48.5% in the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock valued at $888,930,000 after purchasing an additional 2,105,546 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Constellation Brands by 14.0% during the 4th quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company’s stock worth $830,333,000 after purchasing an additional 739,393 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 worth $513,871,000 after purchasing an additional 54,184 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

NYSE:STZ opened at $146.37 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $178.13. The firm’s fifty day simple moving average is $146.88 and its 200 day simple moving average is $150.29. The firm has a market capitalization of $25.20 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 4.29 and a beta of 0.39.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business’s quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.63 earnings per share. As a group, equities research analysts expect that Constellation Brands Inc will post 11.77 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company 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 represents a $4.12 dividend on an annualized basis 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 dividend payout ratio is currently 42.96%.

Insiders Place Their Bets

In other news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was 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 directly owned 9,109 shares in the company, valued at $1,304,773.16. This trade represents a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 12.20% of the stock is currently owned by insiders.

Trending Headlines about Constellation Brands

Here are the key news stories impacting Constellation Brands this week:

• Positive Sentiment: RBC said Constellation Brands is likely to post in-line quarterly results and reiterated its outlook, which suggests the company may be on track heading into earnings. Constellation Brands Likely to Report In-Line Quarterly Results, Reiterate Outlook, RBC Says
• Positive Sentiment: TD Cowen reaffirmed its buy rating and set a $174 price target, implying meaningful upside from recent trading levels. Benzinga analyst update
• Positive Sentiment: Needham also reaffirmed a buy rating and raised its price target to $185, signaling continued confidence in the company’s long-term earnings potential. Benzinga analyst update

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of analyst reports. Roth Mkm reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. Piper Sandler raised their target price on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, April 10th. Citigroup reaffirmed a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Constellation Brands from $154.00 to $155.00 and gave the company a “hold” rating in a report on Friday, April 10th. Finally, Jefferies Financial Group reduced their price target on Constellation Brands from $158.00 to $157.00 and set a “hold” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $173.00.

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.