Nippon Life Global Investors Americas Inc. Has $28.25 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Nippon Life Global Investors Americas Inc. lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 42.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,790 shares of the company’s stock after acquiring an additional 32,840 shares during the period. Constellation Brands makes up approximately 1.2% of Nippon Life Global Investors Americas Inc.’s holdings, making the stock its 25th biggest holding. Nippon Life Global Investors Americas Inc. owned 0.06% of Constellation Brands worth $28,247,000 at the end of the most recent reporting period.

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

Constellation Brands Price Performance

NYSE:STZ opened at $248.09 on Monday. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The company has a market cap of $45.39 billion, a P/E ratio of 18.49, a P/E/G 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 stock’s 50-day simple moving average is $245.42 and its 200 day simple moving average is $253.98.

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

Constellation Brands Dividend Announcement

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

Insider Buying and Selling at Constellation Brands

In other news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock worth $3,982,922 over the last quarter. 12.19% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 target price on shares of Constellation Brands in a research note on Friday, July 5th. UBS Group cut their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. Barclays upped their price target on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Morgan Stanley dropped their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $296.29.

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.