Allianz SE Acquires Shares of 6,696 Constellation Brands, Inc. (NYSE:STZ)

Allianz SE bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, HoldingsChannel reports. The fund bought 6,696 shares of the company’s stock, valued at approximately $1,471,000.

A number of other hedge funds also recently modified their holdings of the stock. Allstate Corp acquired a new stake in Constellation Brands during the fourth quarter worth about $1,102,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Constellation Brands by 4.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company’s stock worth $439,000 after acquiring an additional 86 shares during the period. DnB Asset Management AS boosted its position in shares of Constellation Brands by 8.9% during the 4th quarter. DnB Asset Management AS now owns 36,173 shares of the company’s stock worth $7,994,000 after acquiring an additional 2,968 shares in the last quarter. Level Four Advisory Services LLC increased its stake in Constellation Brands by 6.5% in the fourth quarter. Level Four Advisory Services LLC now owns 12,371 shares of the company’s stock valued at $2,734,000 after acquiring an additional 753 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in Constellation Brands by 2.1% during the fourth quarter. Orion Portfolio Solutions LLC now owns 5,399 shares of the company’s stock valued at $1,193,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on STZ. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $245.00 to $200.00 in a report on Monday, February 3rd. TD Cowen decreased their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating and set a $201.00 price target (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Roth Capital dropped their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $249.18.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 0.3 %

Constellation Brands stock opened at $183.69 on Friday. The firm has a market cap of $33.20 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a 50 day moving average price of $177.19 and a two-hundred day moving average price of $214.74.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were paid a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.20%. Constellation Brands’s dividend payout ratio is currently 108.60%.

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.