Prudential PLC Has $9.50 Million Stake in Constellation Brands Inc $STZ

Prudential PLC decreased its position in Constellation Brands Inc (NYSE:STZ) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,857 shares of the company’s stock after selling 16,971 shares during the period. Prudential PLC’s holdings in Constellation Brands were worth $9,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Constellation Brands by 3.3% in the third quarter. Vanguard Group Inc. now owns 18,202,611 shares of the company’s stock valued at $2,451,346,000 after buying an additional 573,766 shares during the period. Capital International Investors lifted its holdings in Constellation Brands by 0.7% in the third quarter. Capital International Investors now owns 4,337,054 shares of the company’s stock valued at $584,135,000 after buying an additional 28,036 shares during the period. Geode Capital Management LLC lifted its holdings in Constellation Brands by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company’s stock valued at $513,871,000 after buying an additional 54,184 shares during the period. Grantham Mayo Van Otterloo & Co. LLC lifted its holdings in Constellation Brands by 1.0% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 3,710,940 shares of the company’s stock valued at $499,752,000 after buying an additional 35,085 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Constellation Brands by 76.7% in the third quarter. Ameriprise Financial Inc. now owns 3,126,644 shares of the company’s stock valued at $421,059,000 after buying an additional 1,356,903 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Trading Up 2.4%

STZ opened at $141.11 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $178.13. The firm has a market capitalization of $24.30 billion, a PE ratio of 14.71, a P/E/G ratio of 3.19 and a beta of 0.39. The company’s 50-day moving average is $150.69 and its 200 day moving average is $149.41.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $2.63 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. As a group, research analysts predict that Constellation Brands Inc will post 11.87 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Wednesday, April 29th were issued a $1.03 dividend. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. Constellation Brands’s dividend payout ratio (DPR) is currently 42.96%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Bank of America dropped their target price on shares of Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a report on Thursday, May 28th. Evercore set a $175.00 price objective on shares of Constellation Brands and gave the company an “outperform” rating in a report on Friday, April 10th. Needham & Company LLC upped their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a report on Friday, April 10th. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. Finally, Barclays upped their price objective on shares of Constellation Brands from $151.00 to $170.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.26.

Constellation Brands Profile

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.