Daiwa Securities Group Inc. Grows Position in Constellation Brands, Inc. (NYSE:STZ)

Daiwa Securities Group Inc. raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 10.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,678 shares of the company’s stock after purchasing an additional 1,854 shares during the period. Daiwa Securities Group Inc.’s holdings in Constellation Brands were worth $5,071,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of STZ. New Millennium Group LLC purchased a new position in Constellation Brands in the 2nd quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands in the second quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $32,000. Opal Wealth Advisors LLC purchased a new stake in Constellation Brands during the 2nd quarter worth about $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Constellation Brands during the 2nd quarter worth about $36,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 189,956 shares of company stock worth $46,058,091. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STZ shares. Morgan Stanley decreased their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Truist Financial cut their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Evercore ISI dropped their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $289.16.

Constellation Brands Trading Down 3.3 %

Shares of STZ stock opened at $233.68 on Wednesday. The business has a 50-day moving average of $242.42 and a 200 day moving average of $247.08. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The stock has a market capitalization of $42.43 billion, a PE ratio of 75.62, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the firm posted $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Constellation Brands 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.