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

Norges Bank acquired a new stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,017,572 shares of the company's stock, valued at approximately $445,883,000. Norges Bank owned 1.12% of Constellation Brands as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares during the period. State Street Corp boosted its stake in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock worth $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Constellation Brands by 13.2% during 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 period. Janus Henderson Group PLC grew its holdings in Constellation Brands by 1.2% during the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company's stock worth $477,515,000 after acquiring an additional 21,454 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Constellation Brands by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company's stock valued at $394,035,000 after acquiring an additional 38,786 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

STZ has been the subject of several recent research reports. Roth Capital cut their target price on shares of Constellation Brands from $298.00 to $284.00 and set a "buy" rating for the company in a report on Friday, January 17th. Needham & Company LLC decreased their price objective on shares of Constellation Brands from $240.00 to $215.00 and set a "buy" rating for the company in a research report on Thursday, March 27th. Jefferies Financial Group reissued a "hold" rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Argus lowered Constellation Brands from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Finally, Citigroup downgraded Constellation Brands from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $260.00 to $200.00 in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Constellation Brands presently has an average rating of "Hold" and an average price target of $249.18.

Constellation Brands Trading Up 0.6 %

Shares of STZ traded up $1.05 during mid-day trading on Tuesday, reaching $184.57. The stock had a trading volume of 801,968 shares, compared to its average volume of 2,794,450. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The firm has a market cap of $33.36 billion, a price-to-earnings ratio of 49.62, a P/E/G ratio of 1.52 and a beta of 1.75. The business's fifty day moving average is $177.18 and its 200 day moving average is $214.02. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its 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 business had revenue of $2.46 billion for 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%. Constellation Brands's revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $3.19 EPS. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $1.01 per share. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.19%. Constellation Brands's payout ratio is currently 108.60%.

Insider Activity at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of the company's stock in a transaction dated Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value 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 represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 12.19% of the stock is owned by insiders.

Constellation Brands 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.