Resona Asset Management Co. Ltd. Acquires Shares of 47,012 Constellation Brands, Inc. (NYSE:STZ)

Resona Asset Management Co. Ltd. bought a new position in Constellation Brands, Inc. (NYSE:STZ) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 47,012 shares of the company’s stock, valued at approximately $10,401,000.

A number of other large investors have also recently made changes to their positions in STZ. Vanguard Group Inc. grew its position in Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock worth $3,433,188,000 after acquiring an additional 1,821,969 shares in the last quarter. Geode Capital Management LLC raised its position in Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company’s stock valued at $705,844,000 after purchasing an additional 63,323 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Constellation Brands by 13.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,176,095 shares of the company’s stock valued at $482,919,000 after purchasing an additional 253,445 shares during the last quarter. Norges Bank bought a new position in shares of Constellation Brands during the 4th quarter valued at approximately $445,883,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Constellation Brands by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock worth $394,035,000 after buying an additional 38,786 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on STZ shares. Roth Mkm cut their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen reduced their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group dropped their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Needham & Company LLC reduced their price target on Constellation Brands from $240.00 to $215.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Finally, Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $244.32.

Insider Buying and Selling

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were acquired at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.19% of the stock is owned by company insiders.

Constellation Brands Price Performance

STZ opened at $173.79 on Monday. The firm has a market capitalization of $31.41 billion, a PE ratio of 46.72, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The business’s 50-day moving average is $177.14 and its two-hundred day moving average is $212.00. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the firm earned $3.19 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. Research analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were given a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. Constellation Brands’s payout ratio is 108.60%.

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.