Mirae Asset Global Investments Co. Ltd. Boosts Stake in Constellation Brands Inc (NYSE:STZ)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in Constellation Brands Inc (NYSE:STZ) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,246 shares of the company’s stock after buying an additional 3,784 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Constellation Brands were worth $5,190,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Park Place Capital Corp boosted its holdings in Constellation Brands by 17.6% in the 1st quarter. Park Place Capital Corp now owns 547 shares of the company’s stock valued at $100,000 after purchasing an additional 82 shares during the last quarter. DLK Investment Management LLC acquired a new position in Constellation Brands in the 1st quarter valued at about $5,759,000. Nvest Financial LLC boosted its holdings in Constellation Brands by 9.8% in the 1st quarter. Nvest Financial LLC now owns 2,127 shares of the company’s stock valued at $390,000 after purchasing an additional 189 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Constellation Brands by 9.7% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 890 shares of the company’s stock valued at $163,000 after purchasing an additional 79 shares during the last quarter. Finally, Kavar Capital Partners Group LLC boosted its holdings in Constellation Brands by 1.4% in the 1st quarter. Kavar Capital Partners Group LLC now owns 16,578 shares of the company’s stock valued at $3,042,000 after purchasing an additional 231 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.45% of the stock is owned by company insiders.

Constellation Brands Trading Up 2.3%

NYSE STZ opened at $166.35 on Wednesday. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $264.45. The stock has a market capitalization of $29.61 billion, a PE ratio of -326.18, a price-to-earnings-growth ratio of 9.01 and a beta of 0.67. The firm has a 50 day moving average of $177.93 and a two-hundred day moving average of $184.54.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm earned $3.57 EPS. The company’s revenue was down 5.5% on a year-over-year basis. As a group, research analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Tuesday, April 29th. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. Constellation Brands’s payout ratio is -800.00%.

Analyst Ratings Changes

Several equities analysts have weighed in on STZ shares. Citigroup decreased their target price on shares of Constellation Brands from $190.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, June 18th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $210.00 to $196.00 and set an “overweight” rating on the stock in a report on Wednesday, June 25th. Bank of America decreased their target price on shares of Constellation Brands from $195.00 to $180.00 and set a “neutral” rating on the stock in a report on Wednesday, June 18th. Morgan Stanley reduced their price target on shares of Constellation Brands from $202.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the company a “buy” rating in a research note on Friday. Eleven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $211.91.

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.