Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,768 shares of the company’s stock after selling 269 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Constellation Brands were worth $969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Vanguard Group Inc. boosted its stake in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares in the last quarter. Capital International Investors boosted its position in Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after purchasing an additional 3,304,709 shares in the last quarter. Capital World Investors grew its holdings in Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the period. Capital Research Global Investors grew its holdings in Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after purchasing an additional 241,982 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Jefferies Financial Group raised their price objective on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Truist Financial reaffirmed a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, Roth Mkm lowered their price target on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares in the company, valued at $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock worth $3,982,922 over the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $248.34 on Friday. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The company has a market cap of $45.44 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The business’s 50 day moving average price is $245.66 and its 200 day moving average price is $253.90.

Constellation Brands (NYSE:STZ) last posted its earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the business earned $2.91 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were given a $1.01 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. Constellation Brands’s dividend payout ratio is currently 30.10%.

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 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.