Nomura Asset Management Co. Ltd. Sells 4,971 Shares of Constellation Brands, Inc. (NYSE:STZ)

Nomura Asset Management Co. Ltd. lowered its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 5.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,233 shares of the company's stock after selling 4,971 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Constellation Brands were worth $17,510,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of Constellation Brands by 0.8% in the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company's stock valued at $1,626,000 after buying an additional 59 shares in the last quarter. BSW Wealth Partners lifted its stake in Constellation Brands by 4.2% in the fourth quarter. BSW Wealth Partners now owns 1,563 shares of the company's stock valued at $345,000 after acquiring an additional 63 shares during the last quarter. Philip James Wealth Mangement LLC grew its position in Constellation Brands by 8.0% in the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company's stock worth $204,000 after acquiring an additional 68 shares in the last quarter. Oak Asset Management LLC increased its stake in shares of Constellation Brands by 0.4% during the 4th quarter. Oak Asset Management LLC now owns 17,611 shares of the company's stock worth $3,892,000 after purchasing an additional 71 shares during the last quarter. Finally, Barden Capital Management Inc. raised its holdings in shares of Constellation Brands by 1.3% during the 4th quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock valued at $1,232,000 after purchasing an additional 72 shares in the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

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Constellation Brands Price Performance

Shares of NYSE STZ traded down $1.54 during trading on Thursday, reaching $181.19. The company had a trading volume of 855,766 shares, compared to its average volume of 1,629,956. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The business's 50 day moving average price is $177.29 and its 200-day moving average price is $213.33. The stock has a market cap of $32.75 billion, a PE ratio of 48.71, a PEG ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company posted $3.19 EPS. Analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.23%. Constellation Brands's dividend payout ratio is currently 108.60%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Constellation Brands from a "hold" rating to a "sell" rating in a research report on Friday, March 14th. Citigroup lowered Constellation Brands from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $260.00 to $200.00 in a report on Thursday, March 20th. Argus lowered Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Piper Sandler downgraded Constellation Brands from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. Finally, TD Cowen dropped their price target 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $246.23.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.19% of the company's stock.

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.