Resona Asset Management Co. Ltd. Acquires Shares of 47,012 Constellation Brands, Inc. (NYSE:STZ)

Resona Asset Management Co. Ltd. bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 47,012 shares of the company’s stock, valued at approximately $10,401,000.

Several other hedge funds have also bought and sold shares of the stock. Leeward Financial Partners LLC increased its holdings in Constellation Brands by 18.0% in the fourth quarter. Leeward Financial Partners LLC now owns 931 shares of the company’s stock valued at $206,000 after buying an additional 142 shares in the last quarter. Savoir Faire Capital Management L.P. raised its position in Constellation Brands by 82.5% during the fourth quarter. Savoir Faire Capital Management L.P. now owns 55,218 shares of the company’s stock worth $12,203,000 after acquiring an additional 24,958 shares during the period. World Investment Advisors grew its position in shares of Constellation Brands by 46.6% in the fourth quarter. World Investment Advisors now owns 3,739 shares of the company’s stock valued at $826,000 after purchasing an additional 1,189 shares during the period. Bryce Point Capital LLC purchased a new position in Constellation Brands in the 4th quarter valued at about $2,200,000. Finally, Meeder Advisory Services Inc. boosted its holdings in Constellation Brands by 8.9% in the 4th quarter. Meeder Advisory Services Inc. now owns 4,665 shares of the company’s stock worth $1,031,000 after buying an additional 383 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Truist Financial reduced their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Evercore ISI cut their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, Roth Capital lowered their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $244.32.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $173.79 on Monday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock has a market capitalization of $31.41 billion, a price-to-earnings ratio of 46.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The business has a 50-day moving average of $177.14 and a 200 day moving average of $212.00. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the firm earned $3.19 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.32%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Buying and Selling

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The stock was purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the transaction, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.19% 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.