Pacer Advisors Inc. Sells 104 Shares of Constellation Brands, Inc. (NYSE:STZ)

Pacer Advisors Inc. decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 0.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 21,944 shares of the company’s stock after selling 104 shares during the quarter. Pacer Advisors Inc.’s holdings in Constellation Brands were worth $5,646,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. AE Wealth Management LLC raised its stake in shares of Constellation Brands by 10.2% during the 2nd quarter. AE Wealth Management LLC now owns 1,530 shares of the company’s stock worth $394,000 after purchasing an additional 142 shares in the last quarter. King Luther Capital Management Corp raised its stake in shares of Constellation Brands by 14.1% during the 2nd quarter. King Luther Capital Management Corp now owns 1,255 shares of the company’s stock worth $323,000 after purchasing an additional 155 shares in the last quarter. Benjamin Edwards Inc. raised its stake in shares of Constellation Brands by 3,785.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,554 shares of the company’s stock worth $400,000 after purchasing an additional 1,514 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of Constellation Brands by 14.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,118 shares of the company’s stock worth $802,000 after purchasing an additional 385 shares in the last quarter. Finally, Brighton Jones LLC raised its stake in shares of Constellation Brands by 4.7% during the 2nd quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $254.85 on Tuesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The stock’s fifty day moving average price is $245.53 and its two-hundred day moving average price is $253.98. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The firm has a market cap of $46.63 billion, a price-to-earnings ratio of 18.99, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $2.91 EPS. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current year.

Constellation Brands Dividend Announcement

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

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The stock was 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Daniel J. Mccarthy sold 1,854 shares of the 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 sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following 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. In the last three months, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STZ has been the topic of a number of analyst reports. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Truist Financial restated a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. Barclays increased their price target on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, September 17th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $296.29.

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.