DekaBank Deutsche Girozentrale Boosts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

DekaBank Deutsche Girozentrale increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.1% in the first quarter, Holdings Channel reports. The firm owned 27,385 shares of the company’s stock after purchasing an additional 301 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Constellation Brands were worth $7,383,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of STZ. Capital International Investors boosted its stake in Constellation Brands by 39.4% in the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Norges Bank acquired a new stake in Constellation Brands in the 4th quarter worth approximately $443,844,000. Capital World Investors lifted its stake in Constellation Brands by 8.7% during the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the period. Boston Partners acquired a new stake in Constellation Brands during the 4th quarter valued at approximately $156,358,000. Finally, International Assets Investment Management LLC lifted its stake in Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after acquiring an additional 564,744 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

STZ traded up $1.57 on Friday, hitting $246.94. 1,409,592 shares of the company’s stock were exchanged, compared to its average volume of 1,198,954. The firm has a 50-day moving average price of $252.51 and a 200-day moving average price of $254.69. 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 stock has a market cap of $45.00 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.62 and a beta of 0.87. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 EPS. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. Constellation Brands’s payout ratio is 30.10%.

Insider Activity

In other Constellation Brands news, 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 value of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,831 shares of company stock valued at $7,261,502. 12.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on STZ shares. Evercore ISI lifted their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Wedbush reaffirmed an “outperform” rating and set a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Truist Financial reaffirmed a “hold” rating and set a $265.00 target price on shares of Constellation Brands in a report on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $300.28.

Constellation Brands Company 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.