Constellation Brands, Inc. (NYSE:STZ) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZGet Rating) by 10.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 64,286 shares of the company’s stock after acquiring an additional 6,285 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Constellation Brands were worth $14,806,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in STZ. Capital World Investors lifted its position in Constellation Brands by 28.7% during the fourth quarter. Capital World Investors now owns 8,810,424 shares of the company’s stock worth $2,211,152,000 after buying an additional 1,967,115 shares during the period. Norges Bank purchased a new position in Constellation Brands during the fourth quarter worth about $371,552,000. Alliancebernstein L.P. lifted its position in Constellation Brands by 48.6% during the fourth quarter. Alliancebernstein L.P. now owns 2,885,267 shares of the company’s stock worth $724,116,000 after buying an additional 943,872 shares during the period. Neuberger Berman Group LLC lifted its position in Constellation Brands by 53.3% during the first quarter. Neuberger Berman Group LLC now owns 1,428,539 shares of the company’s stock worth $329,065,000 after buying an additional 496,542 shares during the period. Finally, Vanguard Group Inc. lifted its position in Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after buying an additional 313,344 shares during the period. Institutional investors and hedge funds own 73.86% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, insider Robert Sands sold 1,427,799 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $346,683,875.19. Following the completion of the transaction, the insider now owns 550,214 shares in the company, valued at approximately $133,597,461.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert Sands sold 1,427,799 shares of the business’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $242.81, for a total transaction of $346,683,875.19. Following the completion of the transaction, the insider now owns 550,214 shares in the company, valued at approximately $133,597,461.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of Constellation Brands stock in a transaction on Friday, July 15th. The shares were sold at an average price of $242.81, for a total value of $44,514,842.92. Following the sale, the insider now directly owns 100 shares in the company, valued at approximately $24,281. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,619,248 shares of company stock worth $393,239,506. 16.19% of the stock is currently owned by corporate insiders.

Constellation Brands Price Performance

Shares of STZ opened at $239.90 on Monday. The firm has a market cap of $44.33 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.03 and a beta of 1.01. The stock has a 50 day moving average of $245.81 and a 200-day moving average of $240.82. The company has a current ratio of 1.40, a quick ratio of 0.70 and a debt-to-equity ratio of 0.89. Constellation Brands, Inc. has a 52 week low of $207.59 and a 52 week high of $261.52.

Constellation Brands (NYSE:STZGet Rating) last issued its earnings results on Thursday, June 30th. The company reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.16 billion. Constellation Brands had a return on equity of 17.19% and a net margin of 12.72%. The business’s revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.33 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 11.09 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, August 9th. This represents a $3.20 annualized dividend and a dividend yield of 1.33%. Constellation Brands’s payout ratio is 48.34%.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent analyst reports. Credit Suisse Group reduced their target price on Constellation Brands from $295.00 to $292.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Morgan Stanley raised their price objective on Constellation Brands from $294.00 to $298.00 and gave the stock an “overweight” rating in a report on Tuesday, June 21st. StockNews.com upgraded Constellation Brands from a “hold” rating to a “buy” rating in a report on Monday, June 20th. BMO Capital Markets started coverage on Constellation Brands in a report on Tuesday, August 2nd. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their price objective on Constellation Brands from $263.00 to $287.00 and gave the stock an “overweight” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average target price of $272.88.

About Constellation Brands

(Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

Receive News & Ratings for Constellation Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Constellation Brands and related companies with MarketBeat.com's FREE daily email newsletter.