Mitsubishi UFJ Trust & Banking Corp Trims Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 71,882 shares of the company’s stock after selling 2,551 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Constellation Brands were worth $15,886,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of STZ. Thrivent Financial for Lutherans grew its holdings in shares of Constellation Brands by 13.0% in the third quarter. Thrivent Financial for Lutherans now owns 7,341 shares of the company’s stock worth $1,892,000 after purchasing an additional 845 shares during the last quarter. Glenmede Trust Co. NA grew its stake in Constellation Brands by 16.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 3,908 shares of the company’s stock worth $1,007,000 after acquiring an additional 554 shares in the last quarter. CreativeOne Wealth LLC bought a new position in Constellation Brands in the 3rd quarter worth about $565,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Constellation Brands by 12.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,025 shares of the company’s stock worth $20,622,000 after acquiring an additional 9,154 shares during the period. Finally, Fiduciary Trust Co raised its stake in shares of Constellation Brands by 2.4% during the third quarter. Fiduciary Trust Co now owns 5,231 shares of the company’s stock valued at $1,348,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Roth Capital dropped their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Barclays decreased their price objective on Constellation Brands from $205.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 target price (down from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, UBS Group cut their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Hold” and an average target price of $249.18.

Constellation Brands Price Performance

NYSE STZ opened at $183.69 on Friday. The stock’s fifty day moving average price is $177.19 and its 200 day moving average price is $214.99. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The company has a market cap of $33.20 billion, a price-to-earnings ratio of 49.38, a PEG ratio of 1.52 and a beta of 1.75.

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 the consensus estimate of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the business earned $3.19 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 12.19% of the company’s stock.

About Constellation Brands

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.