The Sumitomo Mitsui Asset Management Company LTD Has $2,485,000 Stake in Constellation Brands Inc. (STZ)

The Sumitomo Mitsui Asset Management Company LTD Has $2,485,000 Stake in Constellation Brands Inc. (STZ)

Sumitomo Mitsui Asset Management Company LTD cut its position in shares of Constellation Brands Inc. (NYSE:STZ) by 0.2% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,930 shares of the company’s stock after selling 23 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Constellation Brands were worth $2,485,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC raised its stake in Constellation Brands by 2.1% in the second quarter. Quadrant Capital Group LLC now owns 678 shares of the company’s stock valued at $103,000 after buying an additional 14 shares during the last quarter. PineBridge Investments L.P. raised its stake in Constellation Brands by 331.3% in the second quarter. PineBridge Investments L.P. now owns 690 shares of the company’s stock valued at $115,000 after buying an additional 530 shares during the last quarter. Hanson McClain Inc. raised its stake in Constellation Brands by 0.3% in the second quarter. Hanson McClain Inc. now owns 764 shares of the company’s stock valued at $126,000 after buying an additional 2 shares during the last quarter. Brick & Kyle Associates raised its stake in Constellation Brands by 1.9% in the third quarter. Brick & Kyle Associates now owns 815 shares of the company’s stock valued at $136,000 after buying an additional 15 shares during the last quarter. Finally, Duncker Streett & Co. Inc. raised its stake in Constellation Brands by 179.0% in the third quarter. Duncker Streett & Co. Inc. now owns 837 shares of the company’s stock valued at $139,000 after buying an additional 537 shares during the last quarter. Institutional investors own 73.43% of the company’s stock.

Constellation Brands Inc. (NYSE:STZ) traded down 0.56% during midday trading on Thursday, reaching $149.64. The company’s stock had a trading volume of 1,094,342 shares. The company has a market cap of $29.34 billion, a PE ratio of 23.16 and a beta of 0.50. The stock has a 50-day moving average price of $151.48 and a 200 day moving average price of $160.97. Constellation Brands Inc. has a 12 month low of $130.23 and a 12 month high of $173.55.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, January 5th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.24. The company had revenue of $1.81 billion for the quarter. Constellation Brands had a net margin of 16.65% and a return on equity of 19.07%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $1.42 EPS. Analysts expect that Constellation Brands Inc. will post $6.65 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 23rd. Investors of record on Monday, January 9th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.06%. Constellation Brands’s dividend payout ratio (DPR) is presently 24.73%.

Several research firms recently issued reports on STZ. RBC Capital Markets set a $183.00 target price on Constellation Brands and gave the stock a “buy” rating in a report on Tuesday, January 3rd. Zacks Investment Research downgraded Constellation Brands from a “buy” rating to a “hold” rating in a research report on Wednesday, November 16th. Stifel Nicolaus reissued a “buy” rating and set a $189.00 price target on shares of Constellation Brands in a research report on Sunday, January 8th. Goldman Sachs Group Inc. reissued an “overweight” rating and set a $189.00 price target (up previously from $187.00) on shares of Constellation Brands in a research report on Sunday, January 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $194.00 price target (up previously from $191.00) on shares of Constellation Brands in a research report on Saturday, October 8th. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Constellation Brands currently has an average rating of “Buy” and a consensus target price of $180.57.

In related news, VP F Paul Hetterich purchased 752 shares of the stock in a transaction that occurred on Friday, January 13th. The shares were bought at an average price of $148.62 per share, with a total value of $111,762.24. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 10.63% of the company’s stock.

Constellation Brands Company Profile

Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer and wine the United States and Canada. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.

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