Tokio Marine Asset Management Co. Ltd. Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Tokio Marine Asset Management Co. Ltd. boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,205 shares of the company’s stock after buying an additional 52 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Constellation Brands were worth $1,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Portfolio Solutions LLC increased its stake in shares of Constellation Brands by 1.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock valued at $999,000 after purchasing an additional 39 shares in the last quarter. Oakworth Capital Inc. increased its stake in shares of Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after purchasing an additional 42 shares in the last quarter. PFG Investments LLC increased its stake in shares of Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after purchasing an additional 42 shares in the last quarter. Brighton Jones LLC increased its stake in shares of Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after purchasing an additional 43 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its stake in shares of Constellation Brands by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock valued at $285,000 after purchasing an additional 44 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $237.51 on Friday. The company has a market capitalization of $43.12 billion, a price-to-earnings ratio of 76.86, a PEG ratio of 1.70 and a beta of 0.90. 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, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The firm’s 50-day moving average is $244.36 and its 200 day moving average is $248.25.

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

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.70%. Constellation Brands’s payout ratio is presently 130.74%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were 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 $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. The trade was a 69.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,296 shares of company stock valued at $45,899,031. Company insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of several analyst reports. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Barclays dropped 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. Bank of America restated a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.