Constellation Brands, Inc. (NYSE:STZ) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 84,204 shares of the company's stock after buying an additional 2,980 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Constellation Brands were worth $21,699,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STZ. International Assets Investment Management LLC raised its holdings in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock valued at $128,765,000 after acquiring an additional 497,543 shares during the last quarter. State Street Corp increased its stake in Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company's stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock worth $257,865,000 after buying an additional 241,982 shares during the period. NFJ Investment Group LLC lifted its position in Constellation Brands by 617.3% during the third quarter. NFJ Investment Group LLC now owns 108,382 shares of the company's stock worth $27,929,000 after buying an additional 93,273 shares during the period. Finally, World Investment Advisors LLC boosted its stake in Constellation Brands by 4,601.2% in the 3rd quarter. World Investment Advisors LLC now owns 87,771 shares of the company's stock worth $22,618,000 after buying an additional 85,904 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Down 1.1 %

Constellation Brands stock traded down $2.76 during midday trading on Wednesday, hitting $239.84. 1,540,370 shares of the stock were exchanged, compared to its average volume of 1,209,827. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The firm has a market cap of $43.55 billion, a P/E ratio of 79.14, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a 50 day moving average price of $239.53 and a two-hundred day moving average price of $246.17.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.70 earnings per share. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid 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 dividend yield of 1.68%. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Truist Financial cut their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a report on Friday, October 4th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $307.00 to $293.00 and set an "overweight" rating on the stock in a report on Friday, October 4th. BNP Paribas assumed coverage on Constellation Brands in a report on Monday, November 25th. They set a "neutral" rating and a $261.00 price objective for the company. Evercore ISI cut their target price on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. Finally, TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and lowered their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $288.70.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 over the last ninety days. Corporate insiders own 12.19% of the company's stock.

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.