BNP PARIBAS ASSET MANAGEMENT Holding S.A. Boosts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,245 shares of the company’s stock after buying an additional 1,025 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Constellation Brands were worth $11,144,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc grew its position in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after acquiring an additional 72,637 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Constellation Brands by 31.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares in the last quarter. Boston Partners grew its holdings in shares of Constellation Brands by 50.9% during the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after purchasing an additional 328,881 shares during the period. International Assets Investment Management LLC increased its position in Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Constellation Brands in the second quarter valued at approximately $119,394,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent research reports. Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday, November 19th. TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, Roth Mkm reissued a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insider Transactions at Constellation Brands

In related news, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction 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. This trade represents a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Down 0.5 %

STZ opened at $239.66 on Friday. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month 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 stock has a market capitalization of $43.51 billion, a PE ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90. The firm’s fifty day moving average price is $243.04 and its 200 day moving average price is $247.49.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.70 EPS. As a group, research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio 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.