Raiffeisen Bank International AG increased its holdings in Constellation Brands Inc (NYSE:STZ – Free Report) by 1,689.5% during the second quarter, Holdings Channel reports. The firm owned 6,156 shares of the company’s stock after purchasing an additional 5,812 shares during the period. Raiffeisen Bank International AG’s holdings in Constellation Brands were worth $859,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in STZ. Capital International Investors boosted its stake in Constellation Brands by 48.5% in the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after purchasing an additional 2,105,546 shares during the period. Norges Bank purchased a new stake in shares of Constellation Brands in the fourth quarter valued at $267,798,000. Ameriprise Financial Inc. lifted its holdings in shares of Constellation Brands by 650.6% in the second quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after purchasing an additional 1,533,961 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Constellation Brands by 14.0% in the fourth quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company’s stock worth $830,333,000 after buying an additional 739,393 shares during the period. Finally, Nykredit A S purchased a new position in shares of Constellation Brands during the second quarter valued at $83,687,000. 77.34% of the stock is owned by institutional investors and hedge funds.
Constellation Brands Stock Performance
STZ stock opened at $128.19 on Friday. The firm has a 50 day moving average of $132.87 and a two-hundred day moving average of $144.06. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $168.60. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 12.23, a P/E/G ratio of 2.42 and a beta of 0.41. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.06.
Constellation Brands Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were given a $1.03 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.2%. Constellation Brands’s payout ratio is currently 39.31%.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Constellation Brands from $183.00 to $158.00 and set an “equal weight” rating for the company in a research note on Thursday, July 2nd. Wells Fargo & Company lowered their target price on Constellation Brands from $185.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Needham & Company LLC reiterated a “buy” rating and issued a $185.00 target price on shares of Constellation Brands in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Constellation Brands from $155.00 to $150.00 and set a “hold” rating for the company in a research report on Thursday, July 2nd. Finally, TD Cowen restated a “buy” rating and set a $174.00 price target on shares of Constellation Brands in a report on Wednesday, July 1st. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $170.00.
Read Our Latest 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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