China Universal Asset Management Co. Ltd. Purchases Shares of 2,978 Constellation Brands Inc (NYSE:STZ)

China Universal Asset Management Co. Ltd. bought a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 2,978 shares of the company's stock, valued at approximately $547,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Harbor Capital Advisors Inc. increased its stake in Constellation Brands by 36.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Constellation Brands in the 4th quarter valued at about $26,000. Golden State Wealth Management LLC grew its stake in shares of Constellation Brands by 137.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after buying an additional 1,274 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after buying an additional 1,651 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Constellation Brands by 7.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after buying an additional 1,185 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $1.24 during midday trading on Wednesday, reaching $169.31. The company's stock had a trading volume of 1,829,638 shares, compared to its average volume of 1,914,928. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $264.45. The firm has a 50 day moving average price of $176.49 and a 200-day moving average price of $182.54. The stock has a market capitalization of $30.14 billion, a P/E ratio of -70.84, a PEG ratio of 9.48 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the previous year, the firm earned $3.57 EPS. Constellation Brands's quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was 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 directly owned 3,126 shares of the company's stock, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.45% of the stock is owned by insiders.

Wall Street Analyst Weigh In

STZ has been the subject of several research analyst reports. Citigroup upped their target price on shares of Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. BMO Capital Markets decreased their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Bernstein Bank reduced their target price on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company dropped 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. Finally, Bank of America raised their target price on shares of Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $213.74.

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.