Sumitomo Mitsui DS Asset Management Company Ltd Boosts Position in Constellation Brands, Inc. (NYSE:STZ)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZGet Rating) by 8.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,444 shares of the company’s stock after buying an additional 900 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Constellation Brands were worth $2,667,000 as of its most recent SEC filing.

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

Constellation Brands Trading Down 1.0 %

Shares of NYSE:STZ opened at $236.59 on Friday. The company has a market cap of $43.72 billion, a P/E ratio of 35.74, a PEG ratio of 2.01 and a beta of 1.01. 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, Inc. has a 1 year low of $207.59 and a 1 year high of $261.52. The stock’s fifty day moving average price is $245.44 and its 200-day moving average price is $241.30.

Constellation Brands (NYSE:STZGet Rating) last announced its quarterly earnings results on Thursday, June 30th. The company reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The firm 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 company’s quarterly revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.33 earnings per share. Sell-side analysts expect that Constellation Brands, Inc. will post 11.09 earnings per share for the current year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Wednesday, August 10th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Tuesday, August 9th. Constellation Brands’s payout ratio is currently 14.05%.

Analysts Set New Price Targets

STZ has been the topic of several recent research reports. UBS Group reduced their price target 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. JPMorgan Chase & Co. upped their price target on Constellation Brands from $263.00 to $287.00 and gave the stock an “overweight” rating in a research note on Thursday, September 15th. TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a research note on Tuesday. Credit Suisse Group reduced their price target on Constellation Brands from $295.00 to $292.00 and set an “outperform” rating on the stock in a research note on Friday, July 1st. Finally, Morgan Stanley boosted their target price on Constellation Brands from $294.00 to $298.00 and gave the stock an “overweight” rating in a report on Tuesday, June 21st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $272.73.

Insider Activity

In other Constellation Brands news, 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 $133,597,461.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, 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 $133,597,461.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 183,332 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 100 shares in the company, valued at approximately $24,281. The disclosure for this sale can be found here. Insiders have sold a total of 1,619,248 shares of company stock valued at $393,239,506 over the last ninety days. 16.19% of the stock is currently owned by corporate 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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