Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 383,309 shares of the company’s stock after selling 3,074 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Constellation Brands were worth $92,665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Burns Matteson Capital Management LLC increased its position in shares of Constellation Brands by 1.7% in the fourth quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after buying an additional 42 shares in the last quarter. FAS Wealth Partners Inc. increased its position in shares of Constellation Brands by 3.5% during the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after purchasing an additional 43 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of Constellation Brands by 0.3% during the third quarter. Toth Financial Advisory Corp now owns 16,237 shares of the company’s stock worth $4,081,000 after purchasing an additional 44 shares in the last quarter. United Capital Financial Advisers LLC increased its position in shares of Constellation Brands by 2.9% during the first quarter. United Capital Financial Advisers LLC now owns 1,552 shares of the company’s stock worth $357,000 after purchasing an additional 44 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in shares of Constellation Brands by 1.9% during the first quarter. IHT Wealth Management LLC now owns 2,406 shares of the company’s stock worth $543,000 after purchasing an additional 45 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $257.78 on Wednesday. The business’s fifty day simple moving average is $257.25 and its 200-day simple moving average is $247.05. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $47.13 billion, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.78 and a beta of 0.97.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the company earned $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. Equities analysts forecast that Constellation Brands, Inc. will post 13.43 earnings per share for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be paid a dividend of $1.01 per share. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.57%. Constellation Brands’s dividend payout ratio is presently 37.95%.

Analysts Set New Price Targets

Several brokerages recently commented on STZ. BMO Capital Markets boosted their price target on Constellation Brands from $290.00 to $315.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Bank of America boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective on the stock in a research note on Monday. Finally, Roth Mkm reissued a “buy” rating and set a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.