Groupama Asset Managment grew its holdings in Constellation Brands Inc (NYSE:STZ – Free Report) by 25.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,815 shares of the company’s stock after purchasing an additional 4,010 shares during the period. Groupama Asset Managment’s holdings in Constellation Brands were worth $2,972,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the business. Wellington Grp LLC grew its position in Constellation Brands by 62.1% in the first quarter. Wellington Grp LLC now owns 2,586 shares of the company’s stock valued at $388,000 after purchasing an additional 991 shares in the last quarter. Western Wealth Management LLC bought a new position in shares of Constellation Brands in the 1st quarter valued at about $1,128,000. Bank of America Corp DE grew its holdings in shares of Constellation Brands by 9.5% in the 1st quarter. Bank of America Corp DE now owns 1,403,275 shares of the company’s stock valued at $210,491,000 after acquiring an additional 121,515 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Constellation Brands in the first quarter valued at about $334,000. Finally, Kentucky Retirement Systems increased its position in shares of Constellation Brands by 51.6% in the first quarter. Kentucky Retirement Systems now owns 13,756 shares of the company’s stock valued at $2,063,000 after acquiring an additional 4,684 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.
Constellation Brands Trading Down 0.1%
Shares of NYSE:STZ opened at $130.30 on Friday. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $174.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.48 and a current ratio of 0.91. The company has a market capitalization of $22.25 billion, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 4.05 and a beta of 0.39. The company has a 50-day simple moving average of $137.64 and a 200 day simple moving average of $148.75.
Constellation Brands Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be paid a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, July 30th. Constellation Brands’s payout ratio is currently 39.31%.
Insider Buying and Selling at Constellation Brands
In related news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.20% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently commented on STZ shares. Bank of America reduced their price target on Constellation Brands from $152.00 to $145.00 and set an “underperform” rating for the company in a research report on Thursday, July 2nd. Barclays lowered their price target on Constellation Brands from $139.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 21st. Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a research note on Friday, April 10th. Jefferies Financial Group set a $147.00 price objective on Constellation Brands in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $169.00 to $165.00 and set a “neutral” rating for the company in a research note on Thursday, July 2nd. Eleven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $167.53.
View Our Latest Stock Analysis on Constellation Brands
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.
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