B&L Asset Management LLC Acquires Shares of 6,782 Constellation Brands, Inc. (NYSE:STZ)

B&L Asset Management LLC purchased a new stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,782 shares of the company's stock, valued at approximately $1,748,000. Constellation Brands makes up approximately 1.1% of B&L Asset Management LLC's portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also bought and sold shares of the business. Legal & General Group Plc raised its holdings in Constellation Brands by 5.7% in the 2nd quarter. Legal & General Group Plc now owns 1,335,976 shares of the company's stock valued at $343,717,000 after acquiring an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company's stock worth $257,865,000 after purchasing an additional 241,982 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company's stock worth $128,765,000 after purchasing an additional 497,543 shares during the period. Manning & Napier Advisors LLC bought a new stake in Constellation Brands during the second quarter worth about $119,394,000. Finally, Raymond James & Associates boosted its position in shares of Constellation Brands by 14.4% during the 2nd quarter. Raymond James & Associates now owns 443,084 shares of the company's stock worth $113,997,000 after acquiring an additional 55,932 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

STZ has been the topic of several recent analyst reports. TD Cowen lowered Constellation Brands from a "buy" rating to a "hold" rating and decreased their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a research report on Monday, September 9th. Barclays dropped their target price on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating for the company in a report on Monday, October 7th. Bank of America reaffirmed a "neutral" rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Finally, Truist Financial dropped their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research note on Friday, October 4th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands currently has an average rating of "Moderate Buy" and an average target price of $289.16.

Constellation Brands Trading Up 2.1 %

NYSE:STZ traded up $4.98 on Friday, reaching $240.95. 833,709 shares of the stock traded hands, compared to its average volume of 1,386,526. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company's 50 day moving average is $241.72 and its 200-day moving average is $246.75. The firm has a market capitalization of $43.75 billion, a price-to-earnings ratio of 77.98, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.95 billion. During the same period in the prior year, the company posted $3.70 earnings per share. Constellation Brands's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were given a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is presently 130.74%.

Insider Activity

In related news, CEO William A. Newlands sold 7,426 shares of the business's stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,956 shares of company stock valued at $46,058,091 in the last ninety days. 12.19% of the stock is owned by company 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.