Mizuho Securities USA LLC Grows Position in Constellation Brands, Inc. (NYSE:STZ)

Mizuho Securities USA LLC boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 45.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,797 shares of the company’s stock after buying an additional 4,637 shares during the quarter. Mizuho Securities USA LLC’s holdings in Constellation Brands were worth $3,270,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its position in Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after buying an additional 402,211 shares during the last quarter. Janus Henderson Group PLC grew its stake in Constellation Brands by 1.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Constellation Brands by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,782,964 shares of the company’s stock valued at $394,035,000 after purchasing an additional 38,786 shares during the period. Van ECK Associates Corp grew its stake in Constellation Brands by 1,844.7% in 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. Finally, Raymond James Financial Inc. bought a new position in Constellation Brands in the 4th quarter valued at $105,766,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Truist Financial reduced their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Roth Capital reduced their price objective on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $250.41.

Constellation Brands Stock Performance

NYSE:STZ opened at $177.73 on Monday. The business’s 50-day moving average price is $177.32 and its two-hundred day moving average price is $216.87. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87. The stock has a market cap of $32.12 billion, a P/E ratio of 47.78, a PEG ratio of 1.52 and a beta of 0.90. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the business earned $3.19 EPS. The business’s revenue was down .3% on a year-over-year basis. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. The ex-dividend date was Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.27%. Constellation Brands’s payout ratio is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In other 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, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.19% of the company’s stock.

Constellation Brands Company 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.