DnB Asset Management AS Has $7.99 Million Position in Constellation Brands, Inc. (NYSE:STZ)

DnB Asset Management AS boosted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 36,173 shares of the company’s stock after acquiring an additional 2,968 shares during the period. DnB Asset Management AS’s holdings in Constellation Brands were worth $7,994,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Constellation Brands during the fourth quarter worth about $445,883,000. Vanguard Group Inc. raised its position in shares of Constellation Brands by 13.3% in the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after acquiring an additional 876,745 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Constellation Brands during the 4th quarter worth approximately $105,766,000. Finally, State Street Corp boosted its position in shares of Constellation Brands by 6.0% during the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the purchase, the director now directly owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.3 %

Shares of STZ stock opened at $183.69 on Friday. The stock has a 50-day moving average of $177.19 and a 200-day moving average of $214.74. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The stock has a market cap of $33.20 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the business posted $3.19 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STZ shares. Morgan Stanley cut Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Roth Capital dropped their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Barclays dropped their target price on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of “Hold” and a consensus price target of $249.18.

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.