Pitcairn Co. Has $1.82 Million Stake in Constellation Brands, Inc. (NYSE:STZ)

Pitcairn Co. raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 36.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,052 shares of the company’s stock after acquiring an additional 1,901 shares during the quarter. Pitcairn Co.’s holdings in Constellation Brands were worth $1,817,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cerity Partners LLC grew its stake in shares of Constellation Brands by 10.8% during the third quarter. Cerity Partners LLC now owns 121,454 shares of the company’s stock worth $31,298,000 after buying an additional 11,856 shares during the last quarter. Great Valley Advisor Group Inc. raised its position in Constellation Brands by 7.7% in the third quarter. Great Valley Advisor Group Inc. now owns 20,745 shares of the company’s stock valued at $5,346,000 after purchasing an additional 1,489 shares during the last quarter. Raymond James Trust N.A. raised its position in Constellation Brands by 32.2% in the third quarter. Raymond James Trust N.A. now owns 3,567 shares of the company’s stock valued at $919,000 after purchasing an additional 869 shares during the last quarter. Pacer Advisors Inc. raised its position in Constellation Brands by 31.6% in the third quarter. Pacer Advisors Inc. now owns 28,882 shares of the company’s stock valued at $7,443,000 after purchasing an additional 6,938 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Constellation Brands by 2.4% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 43,245 shares of the company’s stock valued at $11,144,000 after purchasing an additional 1,025 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $239.66 on Friday. The business’s fifty day simple moving average is $243.04 and its 200 day simple moving average is $247.49. The firm has a market capitalization of $43.51 billion, a P/E ratio of 77.56, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.70 earnings per share. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Analysts Set New Price Targets

Several research firms have commented on STZ. Bank of America reiterated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. Barclays lowered their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Morgan Stanley lowered their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Truist Financial lowered their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insider Buying and Selling

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. Corporate insiders own 12.19% 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.