abrdn plc Has $15.07 Million Position in Constellation Brands, Inc. (NYSE:STZ)

abrdn plc lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,267 shares of the company’s stock after selling 4,750 shares during the quarter. abrdn plc’s holdings in Constellation Brands were worth $15,073,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in STZ. Grimes & Company Inc. bought a new position in shares of Constellation Brands during the fourth quarter valued at $6,099,000. Southern Style Financial Inc. bought a new position in Constellation Brands during the 4th quarter worth $3,074,000. Paloma Partners Management Co lifted its holdings in Constellation Brands by 568.4% during the 3rd quarter. Paloma Partners Management Co now owns 30,000 shares of the company’s stock worth $7,731,000 after buying an additional 25,512 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Constellation Brands by 3.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 84,204 shares of the company’s stock valued at $21,699,000 after buying an additional 2,980 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in shares of Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands 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 completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,771,800.92. The trade was a 77.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,746 shares of company stock worth $15,017,097 in the last quarter. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Trading Down 1.1 %

Shares of Constellation Brands stock opened at $169.05 on Friday. The company has a market capitalization of $30.55 billion, a P/E ratio of 45.44, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The stock has a fifty day simple moving average of $210.28 and a 200 day simple moving average of $231.88. Constellation Brands, Inc. has a 12-month low of $166.02 and a 12-month high of $274.87. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the previous year, the company posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.39%. Constellation Brands’s dividend payout ratio is currently 108.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. BMO Capital Markets cut their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. UBS Group dropped their price target on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Truist Financial decreased their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. Barclays decreased their price target on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Finally, Evercore ISI lowered their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $254.29.

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.