Mirae Asset Global Investments Co. Ltd. Purchases New Stake in Constellation Brands Inc $STZ

Key Points

• Mirae Asset Global Investments acquired 70,953 shares of Constellation Brands in the third quarter, valued at approximately $8.0 million. Institutional investors and hedge funds collectively own 77.34% of the stock.
• Constellation Brands beat quarterly expectations, reporting EPS of $3.74 versus the $3.62 consensus and revenue of $2.63 billion, up 6.1% year over year. The company declared a quarterly dividend of $1.03 per share, equivalent to a 2.8% yield.
• Analysts’ average price target is $154.09, with a consensus rating of “Hold”; ratings include 12 Buys, seven Holds and four Sells.

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 70,953 shares of the company's stock, valued at approximately $8,022,000.

Other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Constellation Brands by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,826,652 shares of the company's stock valued at $274,029,000 after purchasing an additional 88,538 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Constellation Brands by 9.5% during the 1st quarter. Bank of America Corp DE now owns 1,403,275 shares of the company's stock worth $210,491,000 after buying an additional 121,515 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Constellation Brands by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,042,651 shares of the company's stock worth $156,398,000 after buying an additional 40,124 shares during the last quarter. Empyrean Capital Partners LP lifted its position in shares of Constellation Brands by 3.3% during the 1st quarter. Empyrean Capital Partners LP now owns 606,200 shares of the company's stock worth $90,930,000 after buying an additional 19,500 shares during the last quarter. Finally, Nykredit A S acquired a new stake in Constellation Brands in the second quarter valued at about $83,687,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Constellation Brands stock opened at $145.77 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.53 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $24.67 billion, a PE ratio of 13.07, a P/E/G ratio of 2.83 and a beta of 0.39. Constellation Brands Inc has a 12 month low of $110.60 and a 12 month high of $168.60. The stock has a 50-day moving average price of $125.70 and a two-hundred day moving average price of $141.63.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 6th. The company reported $3.74 EPS for the quarter, beating analysts' consensus estimates of $3.62 by $0.12. The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. Constellation Brands had a return on equity of 24.75% and a net margin of 19.57%. The business's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $3.63 earnings per share. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Analysts expect that Constellation Brands Inc will post 11.85 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $1.03 per share. The ex-dividend date is Friday, October 30th. This represents a $4.12 annualized dividend and a yield of 2.8%. Constellation Brands's dividend payout ratio (DPR) is currently 36.95%.

Analysts Set New Price Targets

Several brokerages have commented on STZ. Evercore set a $160.00 target price on Constellation Brands in a research note on Monday, September 21st. The Goldman Sachs Group set a $155.00 price target on shares of Constellation Brands in a research note on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Constellation Brands from $136.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, October 8th. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $170.00 to $140.00 and set an "overweight" rating for the company in a research report on Monday, October 5th. Finally, Sanford C. Bernstein dropped their price objective on shares of Constellation Brands from $197.00 to $180.00 and set an "outperform" rating for the company in a research note on Monday, September 28th. Twelve research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $154.09.

Constellation Brands Company Profile

Constellation Brands, Inc is a beverage alcohol company that develops, produces, markets and distributes beer, wine and spirits. Its beer portfolio includes Modelo Especial, Corona Extra, Corona Light, Pacifico and Victoria, while its wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company, Simi, Ruffino, High West and Casa Noble.

The company's beer business is primarily focused on the United States, where Constellation markets and distributes several leading Mexican beer brands under license from Grupo Modelo.

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