Mirae Asset Global Investments Co. Ltd. Buys 70,953 Shares of Constellation Brands Inc $STZ

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Constellation Brands Inc (NYSE:STZ) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 70,953 shares of the company’s stock, valued at approximately $8,022,000.

A number of other institutional investors have also recently made changes to their positions in the stock. HB Wealth Management LLC increased its stake in shares of Constellation Brands by 0.7% in the first quarter. HB Wealth Management LLC now owns 10,795 shares of the company’s stock valued at $1,619,000 after buying an additional 72 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of Constellation Brands by 4.3% in the first quarter. Chicago Partners Investment Group LLC now owns 1,888 shares of the company’s stock worth $296,000 after acquiring an additional 77 shares during the period. SBI Securities Co. Ltd. lifted its stake in shares of Constellation Brands by 13.7% in the third quarter. SBI Securities Co. Ltd. now owns 654 shares of the company’s stock worth $74,000 after acquiring an additional 79 shares during the period. Keybank National Association OH boosted its holdings in Constellation Brands by 4.0% in the first quarter. Keybank National Association OH now owns 2,338 shares of the company’s stock valued at $351,000 after acquiring an additional 90 shares during the last quarter. Finally, Shayne & Jacobs LLC boosted its holdings in Constellation Brands by 4.9% in the third quarter. Shayne & Jacobs LLC now owns 1,940 shares of the company’s stock valued at $219,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 5.5%

Shares of STZ stock opened at $145.77 on Thursday. Constellation Brands Inc has a fifty-two week low of $110.60 and a fifty-two week high of $168.60. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.53 and a current ratio of 1.00. The stock has a 50 day simple moving average of $125.70 and a two-hundred day simple moving average of $141.63. The company has a market cap of $24.67 billion, a P/E ratio of 13.07, a PEG ratio of 2.83 and a beta of 0.39.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, October 6th. The company reported $3.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.62 by $0.12. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Constellation Brands had a return on equity of 24.75% and a net margin of 19.57%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.63 EPS. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Research analysts forecast that Constellation Brands Inc will post 11.85 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, October 30th. Constellation Brands’s payout ratio is presently 36.95%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STZ shares. Raymond James Financial set a $150.00 target price on shares of Constellation Brands in a research report on Thursday, September 17th. Piper Sandler set a $125.00 price target on shares of Constellation Brands in a research report on Thursday, October 8th. The Goldman Sachs Group set a $155.00 price objective on shares of Constellation Brands in a research note on Wednesday, October 7th. Citigroup reiterated a “negative” rating on shares of Constellation Brands in a research report on Wednesday, October 7th. Finally, UBS Group lowered their target price on shares of Constellation Brands from $145.00 to $144.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $154.09.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, produces, markets and distributes beer, wine and spirits. Its beer portfolio includes Modelo Especial, Corona Extra, Corona Light, Pacifico and Victoria, while its wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company, Simi, Ruffino, High West and Casa Noble.

The company’s beer business is primarily focused on the United States, where Constellation markets and distributes several leading Mexican beer brands under license from Grupo Modelo.