Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 28.2% in the third quarter, according to its most recent 13F filing with the Securities & 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 as of its most recent SEC filing.

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

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STZ. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Truist Financial reduced their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, BNP Paribas started coverage on Constellation Brands in a research report on Monday. They issued a “neutral” rating and a $261.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $289.16.

Constellation Brands Price Performance

Shares of STZ opened at $235.97 on Thursday. The firm has a market capitalization of $42.84 billion, a price-to-earnings ratio of 76.37, a PEG ratio of 1.71 and a beta of 0.90. The firm’s fifty day simple moving average is $242.12 and its 200-day simple moving average is $247.00. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same period last year, the firm earned $3.70 earnings per share. Constellation Brands’s quarterly revenue was up 2.9% on a year-over-year basis. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date 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 currently 130.74%.

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.