Constellation Brands Inc (NYSE:STZ) Position Decreased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management significantly reduced its holdings in Constellation Brands Inc by 86.8%, selling nearly 1.9 million shares and retaining just 288,172 shares valued at approximately $52.9 million.
• Several other institutional investors, including Harbor Capital Advisors and Golden State Wealth Management, increased their stakes in Constellation Brands during the same quarter, indicating mixed investor sentiment.
• Constellation Brands reported quarterly earnings of $3.22 per share, falling short of expectations, with revenue of $2.52 billion, down 5.5% Year-over-Year.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 86.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 288,172 shares of the company's stock after selling 1,887,923 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Constellation Brands worth $52,885,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Minot DeBlois Advisors LLC bought a new position in Constellation Brands in the 4th quarter worth $29,000. Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the 4th quarter valued at $31,000. Laurel Wealth Advisors LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at $32,000. Rakuten Securities Inc. boosted its holdings in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after buying an additional 161 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of Constellation Brands during the fourth quarter worth about $44,000. Institutional investors own 77.34% of the company's stock.

Insider Buying and Selling

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares in the company, valued at approximately $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

STZ traded down $2.50 during trading on Friday, hitting $170.72. 1,386,497 shares of the stock were exchanged, compared to its average volume of 1,805,695. The stock has a fifty day moving average price of $169.13 and a two-hundred day moving average price of $176.81. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The firm has a market capitalization of $30.10 billion, a P/E ratio of -71.43, a PEG ratio of 10.33 and a beta of 0.67. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30.

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 the consensus estimate of $3.45 by ($0.23). The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm's revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $3.57 EPS. As a group, sell-side analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is presently -170.71%.

Analyst Upgrades and Downgrades

STZ has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a report on Thursday, June 5th. Wall Street Zen upgraded Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and boosted their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. UBS Group raised their target price on shares of Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Finally, Bank of America raised their price objective on Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

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.