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

Nippon Life Global Investors Americas Inc. boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZGet Rating) by 12.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,450 shares of the company’s stock after purchasing an additional 1,530 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Constellation Brands were worth $3,375,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Curi Wealth Management LLC acquired a new stake in shares of Constellation Brands in the 4th quarter worth $25,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $26,000. Kozak & Associates Inc. acquired a new stake in shares of Constellation Brands in the third quarter valued at about $30,000. Cassady Schiller Wealth Management LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $32,000. Finally, Bell Investment Advisors Inc acquired a new stake in shares of Constellation Brands in the third quarter valued at about $33,000. 74.99% of the stock is currently owned by institutional investors.

STZ traded down $0.33 during trading on Friday, hitting $234.50. 1,268,981 shares of the company’s stock were exchanged, compared to its average volume of 1,138,279. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.23 and a quick ratio of 0.65. Constellation Brands, Inc. has a 1 year low of $207.35 and a 1 year high of $261.52. The stock has a 50 day moving average price of $240.63 and a 200 day moving average price of $235.60.

Constellation Brands (NYSE:STZGet Rating) last released its quarterly earnings data on Thursday, April 7th. The company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.22. Constellation Brands had a negative net margin of 0.42% and a positive return on equity of 16.43%. The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the firm earned $1.82 earnings per share. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts expect that Constellation Brands, Inc. will post 11.18 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 19th. Stockholders of record on Thursday, May 5th were given a dividend of $0.80 per share. This is a boost from Constellation Brands’s previous quarterly dividend of $0.14. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Wednesday, May 4th. Constellation Brands’s payout ratio is presently -1,777.78%.

In related news, EVP James O. Bourdeau sold 12,860 shares of the company’s stock in a transaction on Friday, April 22nd. The shares were sold at an average price of $254.24, for a total value of $3,269,526.40. Following the sale, the executive vice president now directly owns 1,628 shares of the company’s stock, valued at $413,902.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William A. Newlands sold 3,787 shares of the company’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of $254.00, for a total transaction of $961,898.00. Following the completion of the sale, the chief executive officer now directly owns 14,798 shares in the company, valued at $3,758,692. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,822 shares of company stock worth $6,451,256. Corporate insiders own 15.77% of the company’s stock.

A number of brokerages have issued reports on STZ. Wells Fargo & Company cut their target price on shares of Constellation Brands from $300.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, February 16th. Credit Suisse Group lifted their target price on shares of Constellation Brands from $278.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, April 8th. Morgan Stanley lowered their price target on shares of Constellation Brands from $299.00 to $294.00 and set an “overweight” rating for the company in a report on Monday, April 4th. StockNews.com upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. Finally, TheStreet upgraded shares of Constellation Brands from a “c+” rating to a “b-” rating in a report on Thursday, April 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $271.29.

About Constellation Brands (Get Rating)

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. It provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands.

Further Reading

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

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