Constellation Brands, Inc. (NYSE:STZ) Stock Holdings Lifted by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 704.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,329 shares of the company’s stock after acquiring an additional 11,672 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Constellation Brands were worth $3,429,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital International Investors raised its holdings in Constellation Brands by 39.4% during the 1st quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after buying an additional 3,304,709 shares during the period. Capital World Investors raised its holdings in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $119,394,000. Vanguard Group Inc. boosted its stake in Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the period. Finally, Palestra Capital Management LLC purchased a new position in Constellation Brands during the 4th quarter worth approximately $83,195,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Down 0.1 %

Shares of STZ stock opened at $248.09 on Monday. The stock’s 50 day simple moving average is $245.42 and its 200 day simple moving average is $253.98. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The company has a market capitalization of $45.39 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the company earned $2.91 earnings per share. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. As a group, research analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were paid a $1.01 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.63%. Constellation Brands’s payout ratio is presently 30.10%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STZ shares. BMO Capital Markets restated an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a report on Friday, July 5th. Truist Financial restated a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 3rd. Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating for the company in a report on Tuesday, September 3rd. Finally, Roth Mkm lowered their price objective on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $296.29.

Insider Buying and Selling

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the sale, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,414 shares of company stock valued at $3,982,922. Insiders own 12.19% of the company’s stock.

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.