abrdn plc Has $16.03 Million Position in Constellation Brands, Inc. (NYSE:STZ)

abrdn plc raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 72.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,314 shares of the company’s stock after buying an additional 27,901 shares during the period. abrdn plc’s holdings in Constellation Brands were worth $16,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Impact Partnership Wealth LLC grew its stake in Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Constellation Brands in the 4th quarter valued at approximately $28,000. Asset Dedication LLC increased its position in shares of Constellation Brands by 3,833.3% during the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock worth $30,000 after buying an additional 115 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Constellation Brands during the third quarter worth $41,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the sale, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. Corporate insiders own 16.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Bank of America raised their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Royal Bank of Canada raised their price target on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Evercore ISI raised their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Stock Performance

Constellation Brands stock opened at $261.55 on Thursday. The firm’s 50 day simple moving average is $259.14 and its 200 day simple moving average is $247.67. 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 capitalization of $47.82 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm posted $1.98 EPS. Constellation Brands’s revenue was up 7.1% on a year-over-year basis. As a group, analysts expect that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Thursday, May 2nd. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 37.95%.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.