Assenagon Asset Management S.A. Cuts Position in Constellation Brands, Inc. (NYSE:STZ)

Assenagon Asset Management S.A. reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 116,838 shares of the company’s stock after selling 3,850 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Constellation Brands worth $30,108,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STZ. Brookstone Capital Management raised its holdings in Constellation Brands by 2.3% during the first quarter. Brookstone Capital Management now owns 14,026 shares of the company’s stock worth $3,812,000 after purchasing an additional 312 shares during the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of Constellation Brands by 5.7% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 3,838 shares of the company’s stock worth $1,043,000 after buying an additional 207 shares during the last quarter. Courier Capital LLC purchased a new stake in shares of Constellation Brands in the 1st quarter worth about $227,000. Register Financial Advisors LLC acquired a new stake in Constellation Brands in the 1st quarter valued at about $115,000. Finally, Independence Bank of Kentucky grew its stake in Constellation Brands by 31.9% in the 1st quarter. Independence Bank of Kentucky now owns 1,934 shares of the company’s stock valued at $526,000 after acquiring an additional 468 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Constellation Brands stock opened at $239.38 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The company has a market cap of $43.80 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The stock’s 50-day moving average is $246.46 and its 200-day moving average is $250.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period in the previous year, the company posted $3.70 earnings per share. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio is presently 30.10%.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 134,367 shares of company stock valued at $32,539,170 over the last quarter. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on STZ shares. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. JPMorgan Chase & Co. dropped their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. UBS Group decreased their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Finally, TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their target price for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Profile

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.