Geode Capital Management LLC Has $513.87 Million Stake in Constellation Brands Inc $STZ

Geode Capital Management LLC increased its position in shares of Constellation Brands Inc (NYSE:STZ) by 1.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,739,549 shares of the company’s stock after purchasing an additional 54,184 shares during the period. Geode Capital Management LLC’s holdings in Constellation Brands were worth $513,871,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in STZ. Stance Capital LLC acquired a new position in Constellation Brands during the third quarter worth $26,000. GoalVest Advisory LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at $28,000. Elyxium Wealth LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at $33,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at $39,000. Finally, Accredited Wealth Management LLC increased its holdings in shares of Constellation Brands by 572.3% in the third quarter. Accredited Wealth Management LLC now owns 316 shares of the company’s stock valued at $43,000 after purchasing an additional 269 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research reports. 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. Citigroup reiterated a “buy” rating on shares of Constellation Brands in a report on Monday, May 18th. Wells Fargo & Company upped their price objective on shares of Constellation Brands from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, April 10th. Bank of America decreased their price objective on shares of Constellation Brands from $154.00 to $152.00 and set an “underperform” rating on the stock in a report on Thursday. Finally, Morgan Stanley upped their price objective on shares of Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.26.

Insider Activity

In other news, EVP James O. Bourdeau sold 4,407 shares of the business’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 completion of the sale, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 12.45% of the company’s stock.

Constellation Brands Trading Down 0.0%

Shares of Constellation Brands stock opened at $138.78 on Monday. The firm has a 50-day moving average of $152.10 and a 200-day moving average of $149.28. The stock has a market cap of $23.90 billion, a PE ratio of 14.47, a PEG ratio of 3.21 and a beta of 0.39. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $180.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. Constellation Brands’s quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.63 earnings per share. As a group, sell-side analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a $1.03 dividend. The ex-dividend date of this dividend was Wednesday, April 29th. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.0%. Constellation Brands’s dividend payout ratio (DPR) is presently 42.96%.

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.