Daiwa Securities Group Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 9.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,947 shares of the company’s stock after purchasing an additional 573 shares during the period. Daiwa Securities Group Inc.’s holdings in Constellation Brands were worth $1,440,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Jennison Associates LLC increased its holdings in shares of Constellation Brands by 120.4% in the second quarter. Jennison Associates LLC now owns 2,727,160 shares of the company’s stock valued at $537,087,000 after buying an additional 1,490,064 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Constellation Brands by 65.0% in the second quarter. Bank of America Corp DE now owns 3,543,690 shares of the company’s stock valued at $697,895,000 after buying an additional 1,395,888 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in shares of Constellation Brands by 14,808.3% in the second quarter. Nuveen Asset Management LLC now owns 655,518 shares of the company’s stock valued at $129,098,000 after buying an additional 651,121 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Constellation Brands by 68.1% in the second quarter. Invesco Ltd. now owns 1,552,996 shares of the company’s stock valued at $305,847,000 after buying an additional 629,124 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Constellation Brands in the second quarter valued at $111,030,000. Hedge funds and other institutional investors own 71.61% of the company’s stock.
Shares of NYSE:STZ opened at $184.52 on Tuesday. The company’s fifty day moving average is $196.27 and its two-hundred day moving average is $197.94. The company has a quick ratio of 1.01, a current ratio of 1.61 and a debt-to-equity ratio of 1.04. Constellation Brands, Inc. has a 12-month low of $150.37 and a 12-month high of $214.48. The company has a market cap of $35.94 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 2.81 and a beta of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Thursday, November 7th. Constellation Brands’s dividend payout ratio is currently 32.33%.
In other news, major shareholder Richard Sands sold 95,521 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $204.57, for a total transaction of $19,540,730.97. Following the transaction, the insider now directly owns 173,379 shares in the company, valued at approximately $35,468,142.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 15.86% of the company’s stock.
Several research analysts have issued reports on the company. MKM Partners dropped their price target on Constellation Brands to $256.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Morgan Stanley dropped their price target on Constellation Brands from $227.00 to $214.00 and set an “equal weight” rating on the stock in a report on Friday, October 4th. TheStreet cut Constellation Brands from a “b” rating to a “c+” rating in a report on Thursday, October 3rd. Zacks Investment Research raised Constellation Brands from a “sell” rating to a “hold” rating and set a $215.00 price target on the stock in a report on Monday, September 23rd. Finally, BMO Capital Markets boosted their target price on shares of Constellation Brands from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, September 17th. Ten research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $223.76.
Constellation Brands 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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