Nomura Asset Management Co. Ltd. Purchases 2,980 Shares of Constellation Brands, Inc. (NYSE:STZ)

Nomura Asset Management Co. Ltd. boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,204 shares of the company’s stock after acquiring an additional 2,980 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Constellation Brands were worth $21,699,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in Constellation Brands during the second quarter worth about $25,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the 2nd quarter valued at $36,000. Wellington Shields & Co. LLC raised its stake in Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the period. Finally, Eastern Bank bought a new position in Constellation Brands during the third quarter worth $39,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Truist Financial cut their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. dropped their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Barclays dropped their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $288.70.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This trade represents a 69.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s 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 completion of the transaction, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Down 0.7 %

STZ stock opened at $242.60 on Wednesday. The stock has a market capitalization of $44.05 billion, a P/E ratio of 78.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average price of $239.83 and a 200-day moving average price of $246.21. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.70 earnings per share. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a $1.01 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.67%. Constellation Brands’s dividend payout ratio is presently 130.74%.

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.