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National Bank of Canada increased its stake in Constellation Brands despite the company's recent earnings miss.
National Bank of Canada FI increased its holdings in Constellation Brands by 14.5%, purchasing an additional 11,368 shares in the fourth quarter.
Constellation Brands, which sells beer, wine, and spirits, saw its shares rated "Hold" with a target price of $244.32.
The company reported earnings per share of $3.25, missing estimates by $0.08, and revenue of $2.46 billion, below the expected $2.53 billion.
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National Bank of Canada aumentó su participación en Constellation Brands a pesar de la reciente pérdida de ganancias de la compañía.