Norden Group LLC Grows Stock Position in Constellation Brands Inc $STZ

Norden Group LLC increased its holdings in Constellation Brands Inc (NYSE:STZ) by 102.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,062 shares of the company’s stock after buying an additional 3,579 shares during the quarter. Norden Group LLC’s holdings in Constellation Brands were worth $951,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. World Investment Advisors boosted its stake in shares of Constellation Brands by 18.8% during the 3rd quarter. World Investment Advisors now owns 3,272 shares of the company’s stock worth $441,000 after acquiring an additional 518 shares during the last quarter. Private Trust Co. NA raised its holdings in Constellation Brands by 0.7% in the 3rd quarter. Private Trust Co. NA now owns 11,001 shares of the company’s stock worth $1,481,000 after purchasing an additional 75 shares during the period. Swedbank AB lifted its position in Constellation Brands by 1,162.4% during the third quarter. Swedbank AB now owns 30,298 shares of the company’s stock valued at $4,080,000 after purchasing an additional 27,898 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in Constellation Brands by 28.8% during the third quarter. Vontobel Holding Ltd. now owns 8,564 shares of the company’s stock valued at $1,153,000 after purchasing an additional 1,916 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Constellation Brands by 37.0% during the third quarter. Farther Finance Advisors LLC now owns 3,044 shares of the company’s stock valued at $410,000 after purchasing an additional 822 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on STZ shares. BNP Paribas cut Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. Roth Capital restated a “buy” rating and set a $209.00 target price (down previously from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. The Goldman Sachs Group lowered their price target on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. Sanford C. Bernstein reduced their price objective on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Finally, JPMorgan Chase & Co. began coverage on shares of Constellation Brands in a research report on Friday, November 7th. They set a “neutral” rating and a $153.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $181.96.

Constellation Brands Trading Up 0.4%

Shares of STZ opened at $139.75 on Friday. The firm has a market cap of $24.46 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 0.42 and a beta of 0.46. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $228.89. The company has a 50 day simple moving average of $136.21 and a two-hundred day simple moving average of $150.30.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. The firm had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. On average, equities analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

About Constellation Brands

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.