Assenagon Asset Management S.A. lifted its holdings in shares of Constellation Brands Inc (NYSE:STZ – Free Report) by 85.3% during the first quarter, Holdings Channel.com reports. The firm owned 113,594 shares of the company’s stock after acquiring an additional 52,304 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Constellation Brands were worth $17,039,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Cidel Asset Management Inc. bought a new position in shares of Constellation Brands during the first quarter worth about $257,000. Leeward Investments LLC MA boosted its holdings in Constellation Brands by 81.0% in the first quarter. Leeward Investments LLC MA now owns 55,618 shares of the company’s stock valued at $8,343,000 after acquiring an additional 24,898 shares during the last quarter. Coerente Capital Management boosted its holdings in Constellation Brands by 42.5% in the first quarter. Coerente Capital Management now owns 109,715 shares of the company’s stock valued at $16,457,000 after acquiring an additional 32,729 shares during the last quarter. XML Financial LLC increased its position in Constellation Brands by 5.6% during the 1st quarter. XML Financial LLC now owns 4,224 shares of the company’s stock valued at $634,000 after purchasing an additional 225 shares during the period. Finally, Brookstone Capital Management increased its position in Constellation Brands by 5.4% during the 1st quarter. Brookstone Capital Management now owns 24,510 shares of the company’s stock valued at $3,677,000 after purchasing an additional 1,266 shares during the period. Institutional investors own 77.34% of the company’s stock.
Constellation Brands Stock Up 1.3%
Constellation Brands stock opened at $146.37 on Friday. The company has a market capitalization of $25.20 billion, a PE ratio of 15.26, a PEG ratio of 4.29 and a beta of 0.39. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.13. The firm’s fifty day moving average is $146.88 and its 200 day moving average is $150.29. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.
Constellation Brands Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.8%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio (DPR) is 42.96%.
Insider Activity at Constellation Brands
In related news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.20% of the stock is currently owned by corporate insiders.
Constellation Brands News Roundup
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
A number of research analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Constellation Brands from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Barclays increased 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 report on Friday, April 10th. UBS Group decreased their price target on Constellation Brands from $186.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, June 17th. Jefferies Financial Group lowered their price objective on Constellation Brands from $158.00 to $157.00 and set a “hold” rating for the company in a research report on Tuesday. Finally, Morgan Stanley boosted their price objective on Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.00.
Get Our Latest Stock Report on STZ
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.
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