Norges Bank Buys Shares of 1,941,126 Constellation Brands Inc $STZ

Norges Bank bought a new stake in Constellation Brands Inc (NYSE:STZ) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 1,941,126 shares of the company’s stock, valued at approximately $267,798,000. Norges Bank owned approximately 1.12% of Constellation Brands at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STZ. Stance Capital LLC acquired a new position in Constellation Brands in the 3rd quarter valued at about $26,000. GoalVest Advisory LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth about $28,000. Elyxium Wealth LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth about $33,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Constellation Brands during the fourth quarter worth about $39,000. Finally, Accredited Wealth Management LLC grew its position in shares of Constellation Brands by 572.3% during the third quarter. Accredited Wealth Management LLC now owns 316 shares of the company’s stock worth $43,000 after buying an additional 269 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

STZ stock opened at $136.86 on Wednesday. The business has a 50 day moving average price of $151.78 and a 200 day moving average price of $149.31. The stock has a market cap of $23.57 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 3.15 and a beta of 0.39. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $178.55. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the business earned $2.63 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands Inc will post 11.89 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a $1.03 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is presently 42.96%.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the sale, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 12.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on STZ shares. Bank of America lowered their price objective on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a research report on Thursday, May 28th. UBS Group boosted their price objective on Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a research report on Friday, April 10th. Roth Mkm reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, April 9th. TD Cowen raised Constellation Brands from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $142.00 to $190.00 in a research report on Monday, April 13th. Finally, Citigroup restated a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $175.26.

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.