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

Dai ichi Life Insurance Company Ltd grew its holdings in Constellation Brands, Inc. (NYSE:STZ) by 40.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,636 shares of the company’s stock after purchasing an additional 3,080 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Constellation Brands were worth $2,736,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. CoreCap Advisors LLC purchased a new position in shares of Constellation Brands during the 2nd quarter worth approximately $617,000. HBK Sorce Advisory LLC lifted its stake in Constellation Brands by 37.4% during the second quarter. HBK Sorce Advisory LLC now owns 11,170 shares of the company’s stock worth $2,874,000 after purchasing an additional 3,040 shares in the last quarter. GHP Investment Advisors Inc. boosted its position in shares of Constellation Brands by 1.8% during the second quarter. GHP Investment Advisors Inc. now owns 33,211 shares of the company’s stock worth $8,545,000 after buying an additional 586 shares during the period. Executive Wealth Management LLC grew its stake in shares of Constellation Brands by 2.3% in the second quarter. Executive Wealth Management LLC now owns 10,925 shares of the company’s stock valued at $2,811,000 after buying an additional 246 shares in the last quarter. Finally, Meeder Advisory Services Inc. raised its holdings in shares of Constellation Brands by 66.7% in the 2nd quarter. Meeder Advisory Services Inc. now owns 4,812 shares of the company’s stock valued at $1,238,000 after buying an additional 1,925 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $252.57 on Monday. The firm has a market capitalization of $46.21 billion, a P/E ratio of 18.82, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The firm’s 50 day moving average is $245.91 and its two-hundred day moving average is $253.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period last year, the business earned $2.91 EPS. Constellation Brands’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.60%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. Insiders sold a total of 16,414 shares of company stock valued at $3,982,922 in the last three months. 12.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STZ shares. JPMorgan Chase & Co. lowered their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Barclays lifted their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Morgan Stanley reduced their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Roth Mkm dropped their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $296.78.

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.