Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,211 shares of the company’s stock after buying an additional 181 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Constellation Brands were worth $3,677,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Impact Partnership Wealth LLC raised its stake in shares of Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after acquiring an additional 94 shares during the period. BKM Wealth Management LLC purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $28,000. Asset Dedication LLC lifted its stake in Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after purchasing an additional 115 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the fourth quarter worth $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Constellation Brands during the third quarter worth $41,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.4 %

Shares of NYSE:STZ opened at $259.68 on Tuesday. The firm has a 50 day simple moving average of $258.44 and a 200-day simple moving average of $247.40. Constellation Brands, Inc. has a twelve month low of $221.81 and a twelve month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $47.47 billion, a PE ratio of 27.68, a P/E/G ratio of 1.76 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the business earned $1.98 EPS. Constellation Brands’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. Constellation Brands’s dividend payout ratio is 37.95%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on STZ shares. Piper Sandler started coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 target price for the company. Barclays raised their price objective on shares of Constellation Brands from $294.00 to $295.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Jefferies Financial Group lifted their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a report on Friday, April 12th. Bank of America increased their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, UBS Group boosted their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $298.55.

Insider Buying and Selling

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a document filed with the SEC, which is available through this link. 16.19% of the stock is currently owned by company insiders.

About Constellation Brands

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.