Pacer Advisors Inc. Increases Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Posted by Defense World Staff on Sep 24th, 2023

Pacer Advisors Inc. lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 32.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,749 shares of the company’s stock after acquiring an additional 3,834 shares during the period. Pacer Advisors Inc.’s holdings in Constellation Brands were worth $3,876,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CVA Family Office LLC boosted its stake in shares of Constellation Brands by 323.1% during the second quarter. CVA Family Office LLC now owns 110 shares of the company’s stock valued at $27,000 after acquiring an additional 84 shares during the last quarter. AXS Investments LLC acquired a new stake in shares of Constellation Brands during the fourth quarter valued at $26,000. Old North State Trust LLC boosted its stake in shares of Constellation Brands by 500.0% during the first quarter. Old North State Trust LLC now owns 120 shares of the company’s stock valued at $27,000 after acquiring an additional 100 shares during the last quarter. Zions Bancorporation N.A. boosted its stake in shares of Constellation Brands by 135.6% during the fourth quarter. Zions Bancorporation N.A. now owns 139 shares of the company’s stock valued at $32,000 after acquiring an additional 80 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Constellation Brands during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 88.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on STZ shares. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $241.00 to $243.00 and gave the stock a “hold” rating in a research note on Wednesday. Truist Financial raised their price target on Constellation Brands from $220.00 to $240.00 and gave the stock a “hold” rating in a research note on Monday, July 3rd. HSBC lifted their price objective on Constellation Brands from $275.00 to $280.00 in a report on Wednesday, June 7th. Wedbush lifted their target price on Constellation Brands from $255.00 to $270.00 in a research report on Wednesday, July 5th. Finally, The Goldman Sachs Group lifted their target price on Constellation Brands from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average price target of $273.14.

Get Our Latest Stock Report on Constellation Brands

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total transaction of $13,240,957.50. Following the sale, the chief executive officer now directly owns 9,316 shares of the company’s stock, valued at $2,495,756.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP James O. Bourdeau sold 30,723 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $269.00, for a total transaction of $8,264,487.00. Following the sale, the executive vice president now directly owns 5,500 shares of the company’s stock, valued at $1,479,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 49,425 shares of the business’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $267.90, for a total value of $13,240,957.50. Following the sale, the chief executive officer now directly owns 9,316 shares in the company, valued at $2,495,756.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,819 shares of company stock valued at $27,054,755. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands Trading Down 0.2 %

Shares of STZ stock opened at $256.03 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.53 and a current ratio of 1.14. Constellation Brands, Inc. has a 1 year low of $208.12 and a 1 year high of $273.65. The stock has a fifty day moving average of $263.50 and a two-hundred day moving average of $243.26. The firm has a market capitalization of $46.94 billion, a PE ratio of -139.91, a price-to-earnings-growth ratio of 2.02 and a beta of 1.04.

Constellation Brands (NYSE:STZ – Get Free Report) last posted its quarterly earnings data on Friday, June 30th. The company reported $2.91 EPS for the quarter, topping analysts’ consensus estimates of $2.83 by $0.08. Constellation Brands had a positive return on equity of 22.32% and a negative net margin of 3.14%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the previous year, the business earned $2.66 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, research analysts expect that Constellation Brands, Inc. will post 11.61 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 10th were paid a $0.89 dividend. This represents a $3.56 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 9th. Constellation Brands’s dividend payout ratio is presently -194.54%.

Constellation Brands Profile

(Free Report)

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.