Daiwa Securities Group Inc. Acquires 1,854 Shares of Constellation Brands, Inc. (NYSE:STZ)

Daiwa Securities Group Inc. increased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 10.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,678 shares of the company’s stock after acquiring an additional 1,854 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Constellation Brands were worth $5,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its position in shares of Constellation Brands by 12.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 9,105 shares of the company’s stock worth $2,288,000 after purchasing an additional 974 shares in the last quarter. Tidal Investments LLC raised its stake in Constellation Brands by 51.5% during the first quarter. Tidal Investments LLC now owns 14,557 shares of the company’s stock valued at $3,957,000 after buying an additional 4,949 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new stake in Constellation Brands in the first quarter worth $282,000. Comerica Bank grew its stake in shares of Constellation Brands by 1.9% in the first quarter. Comerica Bank now owns 73,602 shares of the company’s stock worth $20,002,000 after acquiring an additional 1,368 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its holdings in shares of Constellation Brands by 23.8% during the first quarter. iA Global Asset Management Inc. now owns 31,700 shares of the company’s stock valued at $8,615,000 after acquiring an additional 6,088 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on STZ shares. JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. UBS Group dropped their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, November 19th. Roth Mkm restated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, Bank of America reissued a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $289.16.

Insider Buying and Selling

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, 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. Insiders sold 189,956 shares of company stock valued at $46,058,091 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Price Performance

Shares of STZ stock opened at $233.68 on Wednesday. The stock’s 50-day simple moving average is $242.42 and its 200-day simple moving average is $247.08. The firm has a market capitalization of $42.43 billion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $3.70 earnings per share. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

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 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.