Acadian Asset Management LLC Purchases 3,152 Shares of Constellation Brands, Inc. (NYSE:STZ)

Acadian Asset Management LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 494.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,789 shares of the company’s stock after purchasing an additional 3,152 shares during the period. Acadian Asset Management LLC’s holdings in Constellation Brands were worth $973,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in STZ. New Millennium Group LLC bought a new stake in shares of Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Constellation Brands during the second quarter worth about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands during the second quarter worth about $32,000. YHB Investment Advisors Inc. bought a new stake in shares of Constellation Brands during the first quarter worth about $35,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Constellation Brands during the fourth quarter worth about $35,000. 77.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on STZ shares. Truist Financial reaffirmed a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a research note on Wednesday, July 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Barclays lifted their price objective on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Roth Mkm cut their price objective on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. cut their price objective on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and an average target price of $296.78.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $253.53 on Tuesday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The stock’s 50 day moving average is $245.91 and its 200-day moving average is $253.94. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results 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 return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the firm earned $2.91 earnings per share. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Insider Buying and Selling

In related news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now owns 3,232 shares in the company, valued at $815,853.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by corporate insiders.

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 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.