Sompo Asset Management Co. Ltd. Takes Position in Constellation Brands, Inc. (NYSE:STZ)

Sompo Asset Management Co. Ltd. purchased a new stake in Constellation Brands, Inc. (NYSE:STZ) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,300 shares of the company’s stock, valued at approximately $287,000.

Several other institutional investors have also recently bought and sold shares of STZ. Vanguard Group Inc. increased its holdings in Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. Capital World Investors grew its holdings in Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock worth $2,155,946,000 after buying an additional 324,690 shares in the last quarter. Geode Capital Management LLC raised its position in Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock valued at $705,844,000 after buying an additional 63,323 shares during the last quarter. Capital Research Global Investors lifted its stake in Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock valued at $641,336,000 after acquiring an additional 18,557 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company’s stock worth $542,391,000 after acquiring an additional 736,780 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Up 0.2 %

Shares of STZ stock opened at $187.29 on Thursday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $265.70. The company’s fifty day simple moving average is $180.06 and its two-hundred day simple moving average is $205.62. 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 $33.85 billion, a price-to-earnings ratio of 50.35, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.35. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.26 EPS. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Tuesday, April 29th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $4.08 annualized dividend and a yield of 2.18%. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is currently -800.00%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STZ. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Jefferies Financial Group restated a “hold” rating and issued a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a research report on Thursday, April 17th. Needham & Company LLC reissued a “buy” rating and issued a $215.00 price objective on shares of Constellation Brands in a research report on Thursday, April 10th. Finally, Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $224.42.

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.