Kayne Anderson Rudnick Investment Management LLC Acquires 11,672 Shares of Constellation Brands, Inc. (NYSE:STZ)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 704.4% in the second quarter, Holdings Channel reports. The firm owned 13,329 shares of the company’s stock after purchasing an additional 11,672 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Constellation Brands were worth $3,429,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. New Millennium Group LLC acquired a new position in Constellation Brands during the second quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Constellation Brands during the 2nd quarter worth about $29,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands in the second quarter valued at approximately $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands in the 1st quarter worth approximately $35,000. Finally, First Financial Corp IN acquired a new position in Constellation Brands during the 1st quarter worth $35,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Down 0.1 %

STZ opened at $248.09 on Monday. The stock has a market capitalization of $45.39 billion, a P/E ratio of 18.49, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The firm’s fifty day simple moving average is $245.42 and its 200 day simple moving average is $253.98.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The business 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the company earned $2.91 earnings per share. As a group, research analysts anticipate that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays lifted their target price on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Morgan Stanley cut their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Truist Financial reiterated a “hold” rating and set a $265.00 price target on shares of Constellation Brands in a research report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a report on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $296.29.

Insider Buying and Selling

In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the transaction, the director now directly owns 3,232 shares in the company, valued at approximately $815,853.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. 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 insiders.

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.