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

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Constellation Brands Inc (NYSE:STZ) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,864 shares of the company’s stock after buying an additional 2,367 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Constellation Brands were worth $3,645,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in Constellation Brands in the 4th quarter valued at about $26,000. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands in the 4th quarter valued at about $29,000. Optiver Holding B.V. purchased a new stake in Constellation Brands in the 4th quarter valued at about $31,000. Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands in the 1st quarter valued at about $32,000. Finally, Rakuten Securities Inc. increased its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.7%

Shares of NYSE:STZ opened at $172.61 on Friday. The firm has a fifty day moving average price of $177.36 and a two-hundred day moving average price of $184.05. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.56. Constellation Brands Inc has a one year low of $159.35 and a one year high of $264.45. The company has a market cap of $30.73 billion, a price-to-earnings ratio of -72.22, a PEG ratio of 9.64 and a beta of 0.67.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the previous year, the business earned $3.57 earnings per share. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Wednesday, July 30th. Constellation Brands’s dividend payout ratio is currently -800.00%.

Analysts Set New Price Targets

STZ has been the subject of a number of research reports. Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Piper Sandler raised their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, June 6th. Bernstein Bank decreased their price target on shares of Constellation Brands from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Needham & Company LLC raised their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $213.35.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president directly owned 3,126 shares of the company’s stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.45% of the company’s stock.

Constellation Brands Company Profile

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. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.