Norges Bank Makes New $239.74 Million Investment in Constellation Brands Inc $STZ

Norges Bank bought a new stake in Constellation Brands Inc (NYSE:STZ) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 1,473,670 shares of the company’s stock, valued at approximately $239,737,000.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Constellation Brands by 23.0% during the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after purchasing an additional 187 shares during the last quarter. Jefferies Financial Group Inc. lifted its holdings in shares of Constellation Brands by 43.3% in the 1st quarter. Jefferies Financial Group Inc. now owns 6,122 shares of the company’s stock valued at $1,123,000 after purchasing an additional 1,851 shares during the last quarter. Banco Santander S.A. acquired a new stake in shares of Constellation Brands in the 1st quarter valued at about $247,000. Commonwealth Equity Services LLC grew its stake in Constellation Brands by 5.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 123,405 shares of the company’s stock worth $22,647,000 after buying an additional 6,748 shares during the last quarter. Finally, Empire Life Investments Inc. grew its stake in Constellation Brands by 2.0% during the 1st quarter. Empire Life Investments Inc. now owns 74,476 shares of the company’s stock worth $13,668,000 after buying an additional 1,436 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research reports. Barclays reduced their price objective on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating for the company in a research note on Thursday, October 9th. Citigroup reduced their price target on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating for the company in a research report on Tuesday, September 23rd. Zacks Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. UBS Group set a $160.00 price objective on shares of Constellation Brands in a research note on Tuesday, October 7th. Finally, TD Cowen reduced their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Hold” and an average price target of $181.88.

Constellation Brands Stock Up 1.1%

Shares of NYSE:STZ opened at $137.95 on Tuesday. Constellation Brands Inc has a fifty-two week low of $126.45 and a fifty-two week high of $245.31. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The firm’s 50-day simple moving average is $135.13 and its 200-day simple moving average is $154.99. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 0.39 and a beta of 1.75.

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

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were issued a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is currently 59.56%.

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.