BI Asset Management Fondsmaeglerselskab A S Sells 6,750 Shares of Constellation Brands, Inc. (NYSE:STZ)

BI Asset Management Fondsmaeglerselskab A S reduced its position in Constellation Brands, Inc. (NYSE:STZFree Report) by 39.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,438 shares of the company’s stock after selling 6,750 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Constellation Brands were worth $2,523,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of STZ. BKM Wealth Management LLC purchased a new position in Constellation Brands in the fourth quarter worth $28,000. Asset Dedication LLC boosted its position in shares of Constellation Brands by 3,833.3% in the 3rd quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Constellation Brands during the 4th quarter worth $37,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Constellation Brands during the 3rd quarter valued at about $41,000. Finally, Exchange Traded Concepts LLC acquired a new position in Constellation Brands during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. BMO Capital Markets upped their price target on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a research note on Monday, April 15th. Piper Sandler started coverage on Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Finally, HSBC increased their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $298.55.

Read Our Latest Stock Report on Constellation Brands

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,031 shares of company stock worth $12,582,321. Insiders own 16.19% of the company’s stock.

Constellation Brands Stock Down 1.9 %

Shares of STZ opened at $250.65 on Tuesday. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market cap of $45.86 billion, a P/E ratio of 26.72, a PEG ratio of 1.72 and a beta of 0.95. The stock’s 50 day moving average is $262.11 and its two-hundred day moving average is $250.68. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZGet Free Report) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 EPS. Analysts predict that Constellation Brands, Inc. will post 13.53 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a $1.01 dividend. The ex-dividend date was Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.61%. Constellation Brands’s dividend payout ratio (DPR) is currently 43.07%.

Constellation Brands Profile

(Free Report)

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. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.

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

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