589,891 Shares in Constellation Brands Inc $STZ Bought by Pzena Investment Management LLC

Pzena Investment Management LLC bought a new position in shares of Constellation Brands Inc (NYSE:STZ) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 589,891 shares of the company’s stock, valued at approximately $81,381,000.

Several other large investors have also added to or reduced their stakes in the business. Choreo LLC boosted its holdings in Constellation Brands by 2.1% during the fourth quarter. Choreo LLC now owns 3,116 shares of the company’s stock worth $437,000 after purchasing an additional 63 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its holdings in Constellation Brands by 2.2% during the fourth quarter. Dynamic Advisor Solutions LLC now owns 3,507 shares of the company’s stock worth $484,000 after purchasing an additional 76 shares during the last quarter. Larson Financial Group LLC boosted its holdings in Constellation Brands by 2.6% during the fourth quarter. Larson Financial Group LLC now owns 3,610 shares of the company’s stock worth $498,000 after purchasing an additional 93 shares during the last quarter. Sigma Planning Corp boosted its holdings in Constellation Brands by 4.0% during the fourth quarter. Sigma Planning Corp now owns 2,458 shares of the company’s stock worth $325,000 after purchasing an additional 95 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Constellation Brands by 6.4% during the fourth quarter. Global Retirement Partners LLC now owns 1,739 shares of the company’s stock worth $240,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of Constellation Brands stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.45% of the stock is owned by company insiders.

Constellation Brands Stock Performance

Shares of NYSE STZ opened at $150.86 on Friday. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $186.40. The stock has a 50 day moving average of $152.74 and a 200-day moving average of $148.60. The company has a market capitalization of $25.98 billion, a P/E ratio of 15.73, a P/E/G ratio of 3.32 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The firm’s revenue for the quarter was down 11.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.63 EPS. As a group, equities research analysts predict that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were paid a $1.03 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 annualized dividend and a yield of 2.7%. Constellation Brands’s dividend payout ratio is presently 42.96%.

Wall Street Analyst Weigh In

STZ has been the subject of several recent research reports. UBS Group increased their target price on shares of Constellation Brands from $176.00 to $186.00 and gave the stock a “buy” rating in a report on Friday, April 10th. Piper Sandler increased their target price on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, April 10th. TD Cowen upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and increased their target price for the stock from $142.00 to $190.00 in a report on Monday, April 13th. Morgan Stanley increased their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the stock an “equal weight” rating in a report on Friday, April 10th. Finally, Citigroup restated a “buy” rating on shares of Constellation Brands in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $175.37.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.