Nordea Investment Management AB Has $25.80 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Nordea Investment Management AB boosted its holdings in Constellation Brands, Inc. (NYSE:STZGet Rating) by 52.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,140 shares of the company’s stock after buying an additional 38,288 shares during the period. Nordea Investment Management AB owned approximately 0.06% of Constellation Brands worth $25,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital World Investors lifted its holdings in Constellation Brands by 28.7% in the fourth quarter. Capital World Investors now owns 8,810,424 shares of the company’s stock valued at $2,211,152,000 after buying an additional 1,967,115 shares during the period. Alliancebernstein L.P. raised its holdings in Constellation Brands by 48.6% in the fourth quarter. Alliancebernstein L.P. now owns 2,885,267 shares of the company’s stock worth $724,116,000 after purchasing an additional 943,872 shares during the period. Geode Capital Management LLC raised its holdings in Constellation Brands by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,551,818 shares of the company’s stock worth $638,398,000 after purchasing an additional 9,302 shares during the period. American Century Companies Inc. raised its holdings in Constellation Brands by 5.1% in the fourth quarter. American Century Companies Inc. now owns 1,837,048 shares of the company’s stock worth $461,044,000 after purchasing an additional 89,301 shares during the period. Finally, Northern Trust Corp raised its holdings in Constellation Brands by 0.4% in the fourth quarter. Northern Trust Corp now owns 1,569,108 shares of the company’s stock worth $393,800,000 after purchasing an additional 6,598 shares during the period. Institutional investors and hedge funds own 74.99% of the company’s stock.

In other news, Director Jeremy S. G. Fowden sold 7,574 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $240.38, for a total value of $1,820,638.12. Following the completion of the sale, the director now directly owns 18,501 shares of the company’s stock, valued at $4,447,270.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas Michael Kane sold 1,601 shares of the firm’s stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $249.34, for a total value of $399,193.34. Following the completion of the sale, the executive vice president now directly owns 4,692 shares of the company’s stock, valued at $1,169,903.28. The disclosure for this sale can be found here. Insiders have sold 25,822 shares of company stock valued at $6,451,256 over the last three months. Insiders own 16.19% of the company’s stock.

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their target price on shares of Constellation Brands from $275.00 to $280.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. StockNews.com upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday. TheStreet upgraded shares of Constellation Brands from a “c+” rating to a “b-” rating in a report on Thursday, April 28th. Credit Suisse Group raised their price objective on shares of Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a report on Friday, April 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Constellation Brands from $278.00 to $276.00 and set an “overweight” rating on the stock in a report on Monday, April 4th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $269.27.

Shares of NYSE STZ opened at $237.40 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 0.65. The business has a 50-day moving average of $244.06 and a 200-day moving average of $237.46. The stock has a market capitalization of $44.68 billion, a price-to-earnings ratio of -1,318.89, a PEG ratio of 1.90 and a beta of 1.06. Constellation Brands, Inc. has a fifty-two week low of $207.35 and a fifty-two week high of $261.52.

Constellation Brands (NYSE:STZGet Rating) last issued its quarterly earnings results on Thursday, April 7th. The company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.15 by $0.22. Constellation Brands had a positive return on equity of 16.43% and a negative net margin of 0.42%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the firm posted $1.82 earnings per share. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Constellation Brands, Inc. will post 11.13 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 19th. Investors of record on Thursday, May 5th were given a dividend of $0.80 per share. The ex-dividend date was Wednesday, May 4th. This is a boost from Constellation Brands’s previous quarterly dividend of $0.14. This represents a $3.20 annualized dividend and a yield of 1.35%. Constellation Brands’s dividend payout ratio is -516.67%.

Constellation Brands Profile (Get Rating)

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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