abrdn plc Boosts Holdings in Constellation Brands, Inc. (NYSE:STZ)

abrdn plc boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 72.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 66,314 shares of the company’s stock after buying an additional 27,901 shares during the quarter. abrdn plc’s holdings in Constellation Brands were worth $16,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kestra Private Wealth Services LLC boosted its stake in Constellation Brands by 17.2% during the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock worth $4,327,000 after buying an additional 2,526 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Constellation Brands by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after purchasing an additional 4,311 shares during the period. Perigon Wealth Management LLC boosted its stake in shares of Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after purchasing an additional 1,893 shares during the period. CoreCap Advisors LLC boosted its stake in shares of Constellation Brands by 35.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after purchasing an additional 528 shares during the period. Finally, Ascent Wealth Partners LLC purchased a new stake in shares of Constellation Brands during the fourth quarter valued at $962,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Performance

STZ opened at $261.55 on Thursday. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The company has a market cap of $47.82 billion, a P/E ratio of 27.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. The firm’s 50-day moving average price is $259.14 and its 200-day moving average price is $247.67.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. The firm had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. Constellation Brands’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.98 earnings per share. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 37.95%.

Insider Activity at Constellation Brands

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on STZ shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research note on Wednesday, April 10th. Jefferies Financial Group upped their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Argus raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price objective for the company in a research note on Monday, April 15th. Piper Sandler assumed coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective for the company. Finally, Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $298.55.

About Constellation Brands

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.