Mirae Asset Global Investments Co. Ltd. Sells 34,747 Shares of Constellation Brands, Inc. (NYSE:STZ)

Mirae Asset Global Investments Co. Ltd. lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 58.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,462 shares of the company’s stock after selling 34,747 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Constellation Brands were worth $5,413,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Oakworth Capital Inc. increased its holdings in shares of Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after buying an additional 42 shares in the last quarter. PFG Investments LLC lifted its holdings in Constellation Brands by 3.8% during the 3rd quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after buying an additional 42 shares in the last quarter. Metis Global Partners LLC raised its position in shares of Constellation Brands by 0.8% during the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in Constellation Brands by 6.2% in the third quarter. Rosenberg Matthew Hamilton now owns 858 shares of the company’s stock worth $221,000 after purchasing an additional 50 shares during the period. Finally, Strategic Investment Solutions Inc. IL increased its position in Constellation Brands by 4.6% in the third quarter. Strategic Investment Solutions Inc. IL now owns 1,158 shares of the company’s stock worth $298,000 after purchasing an additional 51 shares during the period. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STZ. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $293.00 price objective on shares of Constellation Brands in a research note on Monday, February 3rd. StockNews.com cut Constellation Brands from a “hold” rating to a “sell” rating in a research note on Wednesday. Evercore ISI cut their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Roth Capital reduced their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. Finally, Truist Financial decreased their price target 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. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Stock Performance

Shares of STZ stock opened at $169.05 on Friday. The company’s fifty day simple moving average is $210.28 and its 200-day simple moving average is $231.88. Constellation Brands, Inc. has a 12 month low of $166.02 and a 12 month high of $274.87. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market cap of $30.55 billion, a PE ratio of 45.44, a P/E/G ratio of 1.59 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 EPS. Equities research analysts expect that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,746 shares of company stock worth $15,017,097 over the last quarter. 12.19% of the stock is currently owned by insiders.

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.