Dai ichi Life Insurance Company Ltd Trims Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Dai ichi Life Insurance Company Ltd reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,636 shares of the company’s stock after selling 3,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Constellation Brands were worth $1,968,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. New Millennium Group LLC purchased a new position in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Constellation Brands in the second quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new stake in shares of Constellation Brands in the second quarter valued at about $32,000. LRI Investments LLC purchased a new position in Constellation Brands during the first quarter worth about $37,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Constellation Brands in the second quarter valued at about $36,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Buying and Selling

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Up 1.0 %

STZ stock opened at $235.97 on Thursday. The company has a 50 day moving average price of $242.12 and a two-hundred day moving average price of $247.00. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a market capitalization of $42.84 billion, a P/E ratio of 76.37, a PEG ratio of 1.71 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the firm posted $3.70 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. Constellation Brands’s payout ratio is 130.74%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STZ. Morgan Stanley cut their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Barclays lowered their price target on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Roth Mkm reissued a “buy” rating and set a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price target on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $289.16.

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.