Mitsubishi UFJ Asset Management Co. Ltd. Has $482.92 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 13.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,176,095 shares of the company’s stock after purchasing an additional 253,445 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Constellation Brands were worth $482,919,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company’s stock valued at $3,433,188,000 after buying an additional 1,821,969 shares during the period. Van ECK Associates Corp increased its position in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. Raymond James Financial Inc. bought a new position in Constellation Brands during the 4th quarter worth approximately $105,766,000. State Street Corp lifted its position in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock worth $1,841,048,000 after purchasing an additional 402,211 shares during the period. Finally, Amundi boosted its stake in shares of Constellation Brands by 54.9% in the 4th quarter. Amundi now owns 453,180 shares of the company’s stock valued at $99,373,000 after purchasing an additional 160,563 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director William T. Giles acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Trading Up 3.2 %

Shares of Constellation Brands stock opened at $184.05 on Thursday. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The stock has a fifty day moving average price of $177.20 and a 200-day moving average price of $215.67. The firm has a market cap of $33.26 billion, a PE ratio of 49.48, a P/E/G ratio of 1.52 and a beta of 0.90. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.19 earnings per share. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s payout ratio is presently 108.60%.

Analyst Ratings Changes

STZ has been the subject of a number of analyst reports. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. UBS Group cut their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. Finally, Royal Bank of Canada dropped their price target on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and an average price target of $250.41.

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.