Sei Investments Co. Acquires 5,262 Shares of Constellation Brands, Inc. (NYSE:STZ)

Sei Investments Co. boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 181,665 shares of the company’s stock after purchasing an additional 5,262 shares during the quarter. Sei Investments Co.’s holdings in Constellation Brands were worth $46,739,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in STZ. New Millennium Group LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. bought a new position in shares of Constellation Brands in the 1st quarter worth approximately $35,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Constellation Brands in the 4th quarter valued at approximately $35,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on 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 directly owns 2,706 shares in the company, valued at approximately $706,266. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was 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 directly owns 2,706 shares in the company, valued at approximately $706,266. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,232 shares in the company, valued at approximately $815,853.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,414 shares of company stock worth $3,982,922. 12.19% of the stock is owned by insiders.

Constellation Brands Stock Down 0.1 %

Constellation Brands stock opened at $248.09 on Monday. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The stock has a fifty day simple moving average of $245.42 and a two-hundred day simple moving average of $253.98. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market cap 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 released its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. Constellation Brands’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.91 EPS. Equities analysts predict that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a dividend of $1.01 per share. The ex-dividend date was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a yield of 1.63%. Constellation Brands’s dividend payout ratio (DPR) is 30.10%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Morgan Stanley reduced their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Roth Mkm lowered their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Truist Financial restated a “hold” rating and issued a $265.00 price objective on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, Barclays raised their target price on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $296.29.

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.