Nippon Life Global Investors Americas Inc. Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

Nippon Life Global Investors Americas Inc. decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 25.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,590 shares of the company’s stock after selling 4,000 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Constellation Brands were worth $2,402,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its position in shares of Constellation Brands by 2,750.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 171 shares of the company’s stock valued at $34,000 after buying an additional 165 shares during the last quarter. Gradient Investments LLC boosted its stake in Constellation Brands by 265.3% during the 2nd quarter. Gradient Investments LLC now owns 179 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the period. Next Capital Management LLC acquired a new position in Constellation Brands during the 2nd quarter valued at about $35,000. Capital Bank & Trust Co acquired a new position in Constellation Brands during the 2nd quarter valued at about $39,000. Finally, TCG Advisors LP acquired a new position in Constellation Brands during the 2nd quarter valued at about $40,000. 72.11% of the stock is currently owned by hedge funds and other institutional investors.

STZ traded up $0.81 during midday trading on Tuesday, hitting $195.39. The company had a trading volume of 3,501 shares, compared to its average volume of 1,310,744. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.01 and a current ratio of 1.61. The company has a market capitalization of $37.76 billion, a PE ratio of 21.06, a P/E/G ratio of 2.95 and a beta of 0.69. Constellation Brands, Inc. has a twelve month low of $150.37 and a twelve month high of $227.35. The firm’s 50-day simple moving average is $201.45 and its 200-day simple moving average is $197.98.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.60 by $0.12. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Constellation Brands had a net margin of 8.59% and a return on equity of 14.66%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $2.87 EPS. As a group, sell-side analysts anticipate that Constellation Brands, Inc. will post 8.45 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.00 annualized dividend and a dividend yield of 1.54%. Constellation Brands’s dividend payout ratio (DPR) is presently 32.33%.

In related news, major shareholder Richard Sands sold 95,521 shares of Constellation Brands stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the sale, the insider now directly owns 173,379 shares in the company, valued at $35,468,142.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.86% of the stock is currently owned by insiders.

A number of research analysts have issued reports on the stock. Citigroup set a $210.00 target price on shares of Constellation Brands and gave the company a “hold” rating in a research note on Monday, July 1st. OTR Global raised shares of Constellation Brands to a “positive” rating in a research note on Friday, September 27th. Barclays reissued a “buy” rating and set a $238.00 target price on shares of Constellation Brands in a research note on Tuesday, July 2nd. MKM Partners cut their target price on shares of Constellation Brands to $256.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Finally, Bank of America set a $221.00 target price on shares of Constellation Brands and gave the company a “buy” rating in a research note on Monday, July 1st. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $223.76.

Constellation Brands Company Profile

Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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