Tokio Marine Asset Management Co. Ltd. Has $917,000 Stake in Constellation Brands Inc. (STZ)
Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of Constellation Brands Inc. (NYSE:STZ) by 3.0% during the second quarter, Holdings Channel reports. The fund owned 5,546 shares of the company’s stock after selling 172 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Constellation Brands were worth $917,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Invictus RG bought a new position in shares of Constellation Brands during the first quarter valued at approximately $110,000. Daiwa SB Investments Ltd. acquired a new position in Constellation Brands during the second quarter worth about $134,000. NN Investment Partners Holdings N.V. acquired a new position in Constellation Brands during the first quarter worth about $165,000. Tompkins Financial Corp raised its position in Constellation Brands by 44.2% in the second quarter. Tompkins Financial Corp now owns 1,110 shares of the company’s stock worth $184,000 after buying an additional 340 shares in the last quarter. Finally, Atria Investments LLC acquired a new position in Constellation Brands during the second quarter worth about $203,000. 75.05% of the stock is owned by hedge funds and other institutional investors.
Constellation Brands Inc. (NYSE:STZ) traded up 1.66% on Wednesday, hitting $168.60. The stock had a trading volume of 4,498,620 shares. The stock has a market cap of $33.81 billion, a price-to-earnings ratio of 30.38 and a beta of 0.63. The stock’s 50 day moving average is $165.36 and its 200 day moving average is $160.21. Constellation Brands Inc. has a one year low of $130.23 and a one year high of $173.55.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.12. Constellation Brands had a net margin of 15.53% and a return on equity of 17.66%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same period last year, the firm posted $1.56 EPS. Constellation Brands’s quarterly revenue was up 16.6% on a year-over-year basis. Analysts anticipate that Constellation Brands Inc. will post $6.30 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 22nd. Investors of record on Tuesday, November 8th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. Constellation Brands’s dividend payout ratio (DPR) is 28.78%.
STZ has been the subject of a number of recent research reports. Goldman Sachs Group Inc. reissued a “buy” rating on shares of Constellation Brands in a research report on Friday, July 15th. Susquehanna reissued a “hold” rating on shares of Constellation Brands in a research report on Monday, August 8th. Wells Fargo & Co. reissued an “outperform” rating and set a $185.00 price target on shares of Constellation Brands in a research report on Wednesday, July 6th. Bank of America Corp. reissued a “buy” rating and set a $185.00 price target on shares of Constellation Brands in a research report on Friday, September 30th. Finally, Morgan Stanley reissued a “buy” rating on shares of Constellation Brands in a research report on Thursday, September 15th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Constellation Brands currently has an average rating of “Buy” and an average price target of $175.27.
In other Constellation Brands news, VP Thomas Michael Kane sold 7,000 shares of the business’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $163.26, for a total transaction of $1,142,820.00. Following the sale, the vice president now directly owns 8,764 shares in the company, valued at approximately $1,430,810.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP F Paul Hetterich sold 10,000 shares of the business’s stock in a transaction on Monday, July 11th. The stock was sold at an average price of $164.60, for a total transaction of $1,646,000.00. Following the sale, the vice president now owns 61,404 shares in the company, valued at $10,107,098.40. The disclosure for this sale can be found here. 10.63% of the stock is currently owned by corporate insiders.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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