Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,497 shares of the company’s stock after purchasing an additional 381 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Constellation Brands were worth $3,867,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Constellation Brands by 2.2% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 354,046 shares of the company’s stock worth $78,244,000 after buying an additional 7,575 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Constellation Brands in the fourth quarter valued at about $6,382,000. Hedeker Wealth LLC boosted its position in Constellation Brands by 0.6% in the fourth quarter. Hedeker Wealth LLC now owns 16,126 shares of the company’s stock worth $3,564,000 after purchasing an additional 100 shares during the last quarter. YANKCOM Partnership bought a new stake in shares of Constellation Brands during the 4th quarter valued at about $94,000. Finally, Tectonic Advisors LLC increased its position in shares of Constellation Brands by 8.9% during the 4th quarter. Tectonic Advisors LLC now owns 3,791 shares of the company’s stock valued at $838,000 after purchasing an additional 311 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STZ shares. TD Cowen dropped their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Morgan Stanley reduced their price objective on Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $201.00 price target (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $169.05 on Monday. The firm’s fifty day moving average is $208.85 and its two-hundred day moving average is $231.27. Constellation Brands, Inc. has a 52-week low of $166.02 and a 52-week high of $274.87. The company has a market cap of $30.55 billion, a P/E ratio of 45.44, a P/E/G ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

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

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Buying and Selling

In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,746 shares of company stock worth $15,017,097. 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.