Norden Group LLC Raises Stock Holdings in Constellation Brands Inc $STZ

Norden Group LLC lifted its holdings in Constellation Brands Inc (NYSE:STZ) by 102.8% in the third quarter, HoldingsChannel reports. The firm owned 7,062 shares of the company’s stock after purchasing an additional 3,579 shares during the quarter. Norden Group LLC’s holdings in Constellation Brands were worth $951,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of STZ. Abound Wealth Management grew its stake in shares of Constellation Brands by 341.8% in the 3rd quarter. Abound Wealth Management now owns 243 shares of the company’s stock worth $33,000 after buying an additional 188 shares in the last quarter. Flaharty Asset Management LLC purchased a new position in Constellation Brands in the first quarter worth about $39,000. Hoey Investments Inc. purchased a new stake in Constellation Brands during the second quarter valued at approximately $40,000. WPG Advisers LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $43,000. Finally, Curio Wealth LLC boosted its holdings in shares of Constellation Brands by 29,900.0% in the 2nd quarter. Curio Wealth LLC now owns 300 shares of the company’s stock worth $49,000 after purchasing an additional 299 shares during the period. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on STZ shares. Barclays decreased their price target on Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a report on Thursday, October 9th. TD Cowen lowered 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. Zacks Research raised shares of Constellation Brands from a “strong sell” rating to a “hold” rating in a research note on Monday, November 3rd. Morgan Stanley cut their price target on shares of Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 7th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Constellation Brands in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Hold” and an average price target of $181.96.

Constellation Brands Trading Up 0.4%

Shares of STZ opened at $139.75 on Friday. The firm has a market capitalization of $24.46 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 0.42 and a beta of 0.46. 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 Inc has a 1-year low of $126.45 and a 1-year high of $228.89. The company has a 50-day moving average of $136.21 and a 200 day moving average of $150.30.

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

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s payout ratio is 59.56%.

About Constellation Brands

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.