Mirae Asset Global Investments Co. Ltd. Purchases 3,784 Shares of Constellation Brands Inc (NYSE:STZ)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,246 shares of the company's stock after purchasing an additional 3,784 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Constellation Brands were worth $5,190,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after acquiring an additional 187 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in Constellation Brands by 39.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after purchasing an additional 1,733 shares in the last quarter. SVB Wealth LLC bought a new position in Constellation Brands in the 4th quarter worth approximately $715,000. Metis Global Partners LLC boosted its stake in Constellation Brands by 30.4% in the 4th quarter. Metis Global Partners LLC now owns 7,262 shares of the company's stock worth $1,605,000 after purchasing an additional 1,692 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Constellation Brands by 22.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,138 shares of the company's stock valued at $250,000 after buying an additional 209 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Up 4.5%

Constellation Brands stock traded up $7.52 during midday trading on Wednesday, reaching $173.94. The stock had a trading volume of 6,257,121 shares, compared to its average volume of 1,914,127. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm has a market cap of $30.96 billion, a price-to-earnings ratio of -341.06, a price-to-earnings-growth ratio of 9.01 and a beta of 0.67. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45. The company has a fifty day moving average of $177.93 and a 200 day moving average of $184.54.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the company posted $3.57 EPS. The company's quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 2.35%. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date was Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is -800.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the stock a "buy" rating in a research report on Friday, June 27th. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Wells Fargo & Company cut their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $194.00 to $170.00 and set a "neutral" rating on the stock in a research report on Thursday, June 26th. Finally, Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.91.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 12.45% of the company's stock.

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.