Fjarde AP Fonden Fourth Swedish National Pension Fund Grows Stake in Constellation Brands Inc $STZ

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in Constellation Brands Inc (NYSE:STZ) by 4.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,279 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Constellation Brands were worth $3,462,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STZ. Vanguard Group Inc. grew its holdings in Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares during the last quarter. Wellington Management Group LLP grew its holdings in Constellation Brands by 127.9% in the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after purchasing an additional 2,514,517 shares during the last quarter. Nuveen LLC purchased a new position in Constellation Brands in the first quarter worth $63,377,000. Nordea Investment Management AB grew its holdings in Constellation Brands by 47.6% in the second quarter. Nordea Investment Management AB now owns 606,946 shares of the company’s stock worth $98,538,000 after purchasing an additional 195,784 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Constellation Brands by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock worth $352,748,000 after purchasing an additional 139,158 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STZ has been the topic of several analyst reports. Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a report on Monday, July 7th. The Goldman Sachs Group dropped their price objective on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, October 2nd. BNP Paribas Exane lowered shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price objective on the stock. in a report on Wednesday, September 3rd. Barclays dropped their price objective on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. Finally, Cowen reissued a “hold” rating on shares of Constellation Brands in a report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $186.44.

Constellation Brands Trading Down 1.6%

NYSE STZ opened at $128.89 on Friday. The company has a market capitalization of $22.56 billion, a PE ratio of 18.82, a P/E/G ratio of 0.39 and a beta of 0.66. The company has a fifty day moving average of $142.21 and a 200 day moving average of $163.98. Constellation Brands Inc has a 1 year low of $128.80 and a 1 year high of $245.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. The company had revenue of $2.32 billion during the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. Research analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 3.2%. Constellation Brands’s payout ratio is currently 59.56%.

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.