2,017,572 Shares in Constellation Brands, Inc. (NYSE:STZ) Purchased by Norges Bank

Norges Bank bought a new stake in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,017,572 shares of the company’s stock, valued at approximately $445,883,000.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. Van ECK Associates Corp lifted its position in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock worth $204,265,000 after buying an additional 876,745 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Constellation Brands during the 4th quarter valued at $105,766,000. State Street Corp grew its holdings 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 valued at $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Constellation Brands by 13.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,176,095 shares of the company’s stock worth $482,919,000 after acquiring an additional 253,445 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen reduced their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Piper Sandler lowered Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Needham & Company LLC cut their price objective on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating on the stock in a research report on Thursday. Barclays decreased their target price on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, StockNews.com downgraded shares of Constellation Brands from a “hold” rating to a “sell” rating in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $249.18.

Constellation Brands Stock Down 0.3 %

STZ opened at $183.69 on Friday. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $274.87. The business has a 50 day moving average of $177.19 and a 200-day moving average of $214.99. The stock has a market capitalization of $33.20 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 1.52 and a beta of 1.75. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted 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). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.19 earnings per share. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

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

Insider Transactions at Constellation Brands

In other news, Director William T. Giles bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 12.19% of the stock is owned by insiders.

About Constellation Brands

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.