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

Assenagon Asset Management S.A. lifted its stake in Constellation Brands, Inc. (NYSE:STZ) by 17.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 137,674 shares of the company’s stock after acquiring an additional 20,836 shares during the period. Assenagon Asset Management S.A.’s holdings in Constellation Brands were worth $30,426,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Board of the Pension Protection Fund acquired a new position in Constellation Brands during the fourth quarter valued at approximately $751,000. Oak Thistle LLC acquired a new position in Constellation Brands in the 4th quarter valued at $692,000. Define Financial LLC bought a new position in Constellation Brands in the 4th quarter worth $476,000. Oak Asset Management LLC lifted its position in Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company’s stock worth $3,892,000 after acquiring an additional 71 shares during the last quarter. Finally, Tlwm boosted its holdings in Constellation Brands by 3.6% during the fourth quarter. Tlwm now owns 3,319 shares of the company’s stock valued at $733,000 after acquiring an additional 114 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Up 2.2 %

STZ opened at $184.66 on Friday. The firm has a market cap of $33.53 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 1.28 and a beta of 0.91. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm’s 50-day simple moving average is $228.73 and its 200-day simple moving average is $239.85. Constellation Brands, Inc. has a twelve month low of $176.51 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share 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 firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the business posted $3.19 EPS. The business’s quarterly revenue was down .3% on a year-over-year basis. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.72 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm 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 $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Analyst Ratings Changes

A number of equities analysts have recently commented on STZ shares. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Truist Financial cut their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday. 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 note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, January 7th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research report on Monday. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,172 shares of company stock worth $16,778,841. Insiders own 12.19% of the company’s stock.

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.