Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 3.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 440,307 shares of the company’s stock after acquiring an additional 15,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Constellation Brands worth $99,461,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of STZ. Prudential PLC bought a new stake in Constellation Brands during the 1st quarter valued at $705,000. Cetera Investment Advisers raised its position in Constellation Brands by 1.0% during the 1st quarter. Cetera Investment Advisers now owns 17,026 shares of the company’s stock valued at $3,921,000 after purchasing an additional 163 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Constellation Brands by 17.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 3,149 shares of the company’s stock valued at $725,000 after purchasing an additional 471 shares in the last quarter. Vanguard Group Inc. raised its position in Constellation Brands by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock valued at $2,902,327,000 after purchasing an additional 313,344 shares in the last quarter. Finally, Ergoteles LLC bought a new stake in Constellation Brands during the 1st quarter valued at $257,000. 86.49% of the stock is owned by institutional investors.
Constellation Brands Price Performance
Shares of NYSE:STZ opened at $255.47 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.53 and a debt-to-equity ratio of 1.23. Constellation Brands, Inc. has a twelve month low of $208.12 and a twelve month high of $261.32. The company’s 50 day moving average is $241.52 and its 200 day moving average is $230.11. The company has a market cap of $46.83 billion, a PE ratio of -139.60, a price-to-earnings-growth ratio of 1.89 and a beta of 1.02.
Constellation Brands Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Thursday, August 10th will be issued a dividend of $0.89 per share. This represents a $3.56 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, August 9th. Constellation Brands’s dividend payout ratio (DPR) is -194.54%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on STZ shares. Citigroup lifted their target price on Constellation Brands from $265.00 to $280.00 in a research report on Wednesday, June 21st. UBS Group lifted their price target on Constellation Brands from $267.00 to $280.00 and gave the company a “buy” rating in a report on Monday, April 10th. Deutsche Bank Aktiengesellschaft lifted their price target on Constellation Brands from $231.00 to $234.00 and gave the company a “hold” rating in a report on Monday, July 3rd. TD Cowen lifted their price target on Constellation Brands from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, April 10th. Finally, Wells Fargo & Company lifted their price target on Constellation Brands from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.67.
Insider Buying and Selling at Constellation Brands
In other news, Director Richard Sands sold 3,858,476 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $223.53, for a total transaction of $862,485,140.28. Following the sale, the director now owns 20,488,818 shares of the company’s stock, valued at approximately $4,579,865,487.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Business Holdings Lp Ajb sold 650,000 shares of Constellation Brands stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $223.53, for a total value of $145,294,500.00. Following the sale, the insider now owns 3,365,715 shares in the company, valued at $752,338,273.95. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard Sands sold 3,858,476 shares of Constellation Brands stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $223.53, for a total value of $862,485,140.28. Following the completion of the sale, the director now owns 20,488,818 shares in the company, valued at $4,579,865,487.54. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by corporate insiders.
Constellation Brands 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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