Erste Asset Management GmbH Buys Shares of 52,850 Constellation Brands, Inc. (NYSE:STZ)

Erste Asset Management GmbH acquired a new position in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 52,850 shares of the company's stock, valued at approximately $13,619,000.

A number of other large investors also recently modified their holdings of STZ. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at about $119,394,000. Empowered Funds LLC raised its holdings in shares of Constellation Brands by 318.8% during the 3rd quarter. Empowered Funds LLC now owns 10,184 shares of the company's stock valued at $2,624,000 after buying an additional 7,752 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Constellation Brands during the 3rd quarter valued at about $2,132,000. WealthPlan Investment Management LLC raised its holdings in shares of Constellation Brands by 29.5% during the 3rd quarter. WealthPlan Investment Management LLC now owns 30,160 shares of the company's stock valued at $7,772,000 after buying an additional 6,867 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Constellation Brands during the 1st quarter valued at about $561,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on STZ shares. Wells Fargo & Company dropped their price objective on Constellation Brands from $300.00 to $295.00 and set an "overweight" rating on the stock in a report on Tuesday, November 26th. TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered their price target on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a report on Friday, October 4th. UBS Group reduced their price objective on Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Finally, Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research report on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $289.16.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company's stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company's 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 transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last three months. Company insiders own 12.19% of the company's stock.

Constellation Brands Price Performance

Shares of STZ traded down $3.79 during midday trading on Monday, reaching $237.16. The stock had a trading volume of 387,232 shares, compared to its average volume of 1,203,106. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm's 50 day moving average price is $241.72 and its 200-day moving average price is $246.71. The company has a market capitalization of $43.06 billion, a P/E ratio of 77.98, a P/E/G ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.70 earnings per share. On average, analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

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.