Sumitomo Mitsui DS Asset Management Company Ltd Has $2.67 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Constellation Brands, Inc. (NYSE:STZGet Rating) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,444 shares of the company’s stock after purchasing an additional 900 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Constellation Brands were worth $2,667,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Stratos Wealth Advisors LLC lifted its holdings in shares of Constellation Brands by 23.9% in the 1st quarter. Stratos Wealth Advisors LLC now owns 2,913 shares of the company’s stock worth $671,000 after purchasing an additional 561 shares in the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Constellation Brands by 2.2% in the 1st quarter. Stratos Wealth Partners LTD. now owns 11,103 shares of the company’s stock worth $2,557,000 after purchasing an additional 244 shares in the last quarter. Chevy Chase Trust Holdings Inc. lifted its holdings in shares of Constellation Brands by 0.3% in the 1st quarter. Chevy Chase Trust Holdings Inc. now owns 101,075 shares of the company’s stock worth $23,279,000 after purchasing an additional 293 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of Constellation Brands by 1.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 36,511 shares of the company’s stock worth $8,409,000 after purchasing an additional 424 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Constellation Brands by 15.8% in the 1st quarter. Victory Capital Management Inc. now owns 292,551 shares of the company’s stock worth $68,229,000 after purchasing an additional 39,949 shares in the last quarter. 73.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on STZ shares. UBS Group dropped their price objective on Constellation Brands from $285.00 to $270.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on Constellation Brands from $248.00 to $240.00 and set a “hold” rating on the stock in a research note on Friday, July 1st. Barclays raised their price objective on Constellation Brands from $272.00 to $281.00 and gave the company an “overweight” rating in a research note on Tuesday, July 5th. Wells Fargo & Company raised their price objective on Constellation Brands from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, June 8th. Finally, Redburn Partners started coverage on Constellation Brands in a research note on Wednesday, July 13th. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $272.73.

Constellation Brands Trading Down 1.0 %

Shares of Constellation Brands stock opened at $236.59 on Friday. Constellation Brands, Inc. has a 1 year low of $207.59 and a 1 year high of $261.52. The firm has a market cap of $43.72 billion, a PE ratio of 35.74, a P/E/G ratio of 2.01 and a beta of 1.01. The stock has a fifty day moving average price of $245.44 and a 200-day moving average price of $241.30. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.40 and a quick ratio of 0.70.

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

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Wednesday, August 10th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is currently 14.05%.

Insider Buying and Selling

In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,682 shares of Constellation Brands stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $246.79, for a total transaction of $415,100.78. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $797,625.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Garth Hankinson sold 2,270 shares of Constellation Brands stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $255.92, for a total transaction of $580,938.40. Following the completion of the sale, the chief financial officer now owns 7,176 shares in the company, valued at approximately $1,836,481.92. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel J. Mccarthy sold 1,682 shares of Constellation Brands stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $246.79, for a total value of $415,100.78. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $797,625.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,619,248 shares of company stock valued at $393,239,506. 16.19% of the stock is owned by insiders.

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

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

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