Assenagon Asset Management S.A. Purchases 20,836 Shares of Constellation Brands, Inc. (NYSE:STZ)

Assenagon Asset Management S.A. increased its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 137,674 shares of the company's stock after acquiring an additional 20,836 shares during the quarter. Assenagon Asset Management S.A. owned about 0.08% of Constellation Brands worth $30,426,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Oakworth Capital Inc. grew its stake in Constellation Brands by 4.4% in the 3rd quarter. Oakworth Capital Inc. now owns 989 shares of the company's stock valued at $255,000 after buying an additional 42 shares in the last quarter. PFG Investments LLC grew its position in shares of Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company's stock valued at $296,000 after purchasing an additional 42 shares in the last quarter. Brighton Jones LLC lifted its holdings in Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company's stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Metis Global Partners LLC increased its holdings in Constellation Brands by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company's stock worth $1,435,000 after acquiring an additional 46 shares during the period. Finally, Rosenberg Matthew Hamilton grew its stake in Constellation Brands by 6.2% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company's stock worth $221,000 after buying an additional 50 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

STZ has been the topic of several research reports. Barclays lowered their price objective on shares of Constellation Brands from $282.00 to $214.00 and set an "overweight" rating on the stock in a research report on Tuesday. BMO Capital Markets dropped their price target on Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research report on Monday. TD Cowen dropped their target price 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. Finally, Piper Sandler decreased their price target on shares of Constellation Brands from $300.00 to $245.00 and set an "overweight" rating on the stock in a research note on Monday. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $259.05.

Constellation Brands Stock Down 0.3 %

STZ traded down $0.52 during trading on Friday, reaching $184.05. The stock had a trading volume of 2,839,837 shares, compared to its average volume of 3,211,230. The stock's 50 day moving average is $227.76 and its two-hundred day moving average is $239.46. The company has a market capitalization of $33.42 billion, a price-to-earnings ratio of 49.48, a P/E/G ratio of 1.28 and a beta of 0.91. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a one year low of $176.51 and a one year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the firm earned $3.19 EPS. The company's revenue was down .3% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.72 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Friday, February 7th. Constellation Brands's payout ratio is 108.60%.

Insiders Place Their Bets

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,172 shares of company stock valued at $16,778,841. 12.19% of the stock is currently owned by corporate insiders.

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.