AEGON ASSET MANAGEMENT UK Plc Takes Position in Constellation Brands Inc $STZ

AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Constellation Brands Inc (NYSE:STZ) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 137,707 shares of the company’s stock, valued at approximately $20,655,000.

A number of other institutional investors also recently modified their holdings of the stock. Capital International Investors grew its holdings in Constellation Brands by 48.5% in the fourth quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after purchasing an additional 2,105,546 shares during the period. Norges Bank bought a new stake in Constellation Brands in the fourth quarter valued at $267,798,000. Ameriprise Financial Inc. raised its holdings in shares of Constellation Brands by 650.6% during the second quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after purchasing an additional 1,533,961 shares during the period. Wellington Management Group LLP raised its holdings in shares of Constellation Brands by 14.0% during the fourth quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company’s stock valued at $830,333,000 after purchasing an additional 739,393 shares during the period. Finally, Pzena Investment Management LLC bought a new position in shares of Constellation Brands during the 4th quarter worth about $81,381,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on STZ. Needham & Company LLC raised their target price on Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Constellation Brands in a research note on Monday, May 4th. Evercore set a $175.00 price target on Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. Citigroup reissued a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $185.00 price objective on shares of Constellation Brands in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.68.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This trade represents a 32.61% 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 hyperlink. 12.20% of the stock is currently owned by company insiders.

Constellation Brands Stock Up 0.0%

Shares of NYSE STZ opened at $141.25 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. The company has a 50-day moving average price of $148.95 and a 200-day moving average price of $150.12. The stock has a market capitalization of $24.32 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.32 and a beta of 0.39. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.13.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the prior year, the business posted $2.63 EPS. The firm’s revenue was down 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands Inc will post 11.84 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 2.9%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend was Wednesday, April 29th. Constellation Brands’s dividend payout ratio (DPR) is currently 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.