Tokio Marine Asset Management Co. Ltd. Sells 572 Shares of Constellation Brands Inc (STZ)
Tokio Marine Asset Management Co. Ltd. lowered its holdings in Constellation Brands Inc (NYSE:STZ) by 28.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,471 shares of the company’s stock after selling 572 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Constellation Brands were worth $293,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in STZ. Janus Henderson Group PLC increased its position in shares of Constellation Brands by 4,909.6% in the second quarter. Janus Henderson Group PLC now owns 1,134,716 shares of the company’s stock worth $219,829,000 after acquiring an additional 1,112,065 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Constellation Brands by 488.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,192,858 shares of the company’s stock worth $231,093,000 after acquiring an additional 990,152 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Constellation Brands by 87.9% in the second quarter. Alliancebernstein L.P. now owns 1,681,471 shares of the company’s stock worth $325,751,000 after acquiring an additional 786,726 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in shares of Constellation Brands in the second quarter worth $135,760,000. Finally, Numeric Investors LLC increased its position in shares of Constellation Brands by 2,217.6% in the second quarter. Numeric Investors LLC now owns 720,771 shares of the company’s stock worth $139,635,000 after acquiring an additional 689,671 shares in the last quarter. 74.98% of the stock is owned by institutional investors.
Constellation Brands Inc (NYSE:STZ) opened at $215.91 on Friday. The company has a current ratio of 1.61, a quick ratio of 0.69 and a debt-to-equity ratio of 1.01. Constellation Brands Inc has a 52 week low of $144.00 and a 52 week high of $219.56. The company has a market cap of $42,233.51, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 1.73 and a beta of 0.10.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 5th. The company reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.17 by $0.30. Constellation Brands had a net margin of 21.47% and a return on equity of 22.81%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the firm posted $1.77 EPS. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. equities research analysts predict that Constellation Brands Inc will post 8.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th will be given a $0.52 dividend. The ex-dividend date is Monday, November 6th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. Constellation Brands’s payout ratio is currently 23.85%.
In other news, VP Thomas J. Mullin sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $209.45, for a total value of $10,472,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP William F. Hackett sold 12,517 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $197.00, for a total transaction of $2,465,849.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,952 shares of company stock worth $14,074,993. Insiders own 15.59% of the company’s stock.
STZ has been the subject of several recent research reports. Macquarie began coverage on shares of Constellation Brands in a research report on Thursday, September 14th. They issued an “outperform” rating and a $227.00 price objective for the company. Morgan Stanley restated an “overweight” rating and issued a $218.00 target price on shares of Constellation Brands in a research note on Monday, July 10th. BidaskClub upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. SunTrust Banks, Inc. restated a “buy” rating and issued a $230.00 target price on shares of Constellation Brands in a research note on Friday, October 6th. Finally, Pivotal Research upped their target price on shares of Constellation Brands from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $216.00.
About Constellation Brands
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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