Sumitomo Mitsui Trust Group Inc. Grows Holdings in Constellation Brands, Inc. (NYSE:STZ)

Sumitomo Mitsui Trust Group Inc. boosted its position in Constellation Brands, Inc. (NYSE:STZ) by 2.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 354,046 shares of the company’s stock after purchasing an additional 7,575 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Constellation Brands were worth $78,244,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares in the last quarter. Janus Henderson Group PLC grew its stake in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. International Assets Investment Management LLC increased its position in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the last quarter. National Pension Service increased its position in shares of Constellation Brands by 13.6% during the 3rd quarter. National Pension Service now owns 381,755 shares of the company’s stock valued at $98,374,000 after purchasing an additional 45,707 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Constellation Brands by 66.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after purchasing an additional 147,457 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $169.05 on Monday. The business has a 50-day simple moving average of $208.85 and a 200 day simple moving average of $231.27. Constellation Brands, Inc. has a 52 week low of $166.02 and a 52 week high of $274.87. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 1.51 and a beta of 0.90. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 earnings per share. On average, research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.39%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Truist Financial decreased their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, UBS Group lowered their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $254.29.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William T. Giles acquired 1,000 shares of the stock in a transaction dated Friday, January 17th. The stock was acquired at an average price of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 61,746 shares of company stock worth $15,017,097 over the last 90 days. Corporate insiders own 12.19% of the company’s stock.

About Constellation Brands

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.