Mirae Asset Global Investments Co. Ltd. Has $14.81 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Mirae Asset Global Investments Co. Ltd. raised its position in Constellation Brands, Inc. (NYSE:STZGet Rating) by 10.8% in the 1st quarter, HoldingsChannel reports. The fund owned 64,286 shares of the company’s stock after purchasing 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 filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in STZ. Core Wealth Advisors Inc. acquired a new position in Constellation Brands in the 4th quarter valued at approximately $25,000. MCF Advisors LLC bought a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $25,000. Wagner Wealth Management LLC bought a new stake in shares of Constellation Brands in the 4th quarter valued at approximately $26,000. Ellevest Inc. bought a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $42,000. Finally, Bedel Financial Consulting Inc. grew its stake in shares of Constellation Brands by 25.3% in the 1st quarter. Bedel Financial Consulting Inc. now owns 198 shares of the company’s stock valued at $46,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 73.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STZ. Wells Fargo & Company upped 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. JPMorgan Chase & Co. upped their price objective on Constellation Brands from $263.00 to $287.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets began coverage on Constellation Brands in a research report on Tuesday, August 2nd. They set an “outperform” rating and a $290.00 price target on the stock. The Goldman Sachs Group restated a “buy” rating and set a $275.00 price target on shares of Constellation Brands in a research report on Wednesday, June 29th. Finally, StockNews.com upgraded Constellation Brands from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $272.88.

Constellation Brands Stock Performance

STZ stock opened at $239.90 on Monday. The business’s fifty day moving average is $245.81 and its 200-day moving average is $240.82. The company has a quick ratio of 0.70, a current ratio of 1.40 and a debt-to-equity ratio of 0.89. The company has a market cap of $44.33 billion, a P/E ratio of 36.24, a price-to-earnings-growth ratio of 2.03 and a beta of 1.01. Constellation Brands, Inc. has a twelve month low of $207.59 and a twelve month high of $261.52.

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

Constellation Brands Announces Dividend

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

Insider Buying and Selling

In related news, Director Daniel J. Mccarthy sold 1,682 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $246.79, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Constellation Brands news, Director Daniel J. Mccarthy sold 1,682 shares of the 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 in the company, valued at approximately $797,625.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Sands sold 1,427,799 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $242.81, for a total value of $346,683,875.19. Following the transaction, the insider now owns 550,214 shares of the company’s stock, valued at approximately $133,597,461.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,619,248 shares of company stock valued at $393,239,506. 16.19% of the stock is owned by company 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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