Pacer Advisors Inc. Sells 9,052 Shares of Constellation Brands, Inc. (NYSE:STZ)

Pacer Advisors Inc. reduced its holdings in Constellation Brands, Inc. (NYSE:STZ) by 31.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,830 shares of the company’s stock after selling 9,052 shares during the period. Pacer Advisors Inc.’s holdings in Constellation Brands were worth $4,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new position in Constellation Brands during the 2nd quarter valued at $1,106,000. Truist Financial Corp raised its position in shares of Constellation Brands by 55.1% during the second quarter. Truist Financial Corp now owns 56,904 shares of the company’s stock valued at $14,640,000 after buying an additional 20,209 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Constellation Brands by 9.4% during the second quarter. Cetera Investment Advisers now owns 44,541 shares of the company’s stock valued at $11,460,000 after buying an additional 3,825 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Constellation Brands in the second quarter valued at about $16,327,000. Finally, Anchor Investment Management LLC grew its position in Constellation Brands by 3.1% during the second quarter. Anchor Investment Management LLC now owns 2,548 shares of the company’s stock worth $656,000 after buying an additional 76 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

Constellation Brands stock opened at $184.32 on Friday. The stock has a 50-day simple moving average of $217.72 and a 200 day simple moving average of $234.79. The stock has a market capitalization of $33.31 billion, a price-to-earnings ratio of 49.55, a P/E/G ratio of 1.58 and a beta of 0.91. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 12-month low of $176.51 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the firm posted $3.19 earnings per share. The company’s revenue was down .3% on a year-over-year basis. On average, research analysts anticipate that Constellation Brands, Inc. will post 13.52 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 annualized dividend and a dividend yield of 2.19%. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $203.00 price target (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. Evercore ISI reduced their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research note on Monday. Truist Financial dropped their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Finally, BMO Capital Markets decreased their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.14.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,746 shares of company stock worth $15,017,097 over the last 90 days. 12.19% of the stock is owned by insiders.

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.