Manning & Napier Group LLC Purchases 37,315 Shares of Constellation Brands, Inc. (NYSE:STZ)

Manning & Napier Group LLC grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 212,415 shares of the company's stock after buying an additional 37,315 shares during the quarter. Manning & Napier Group LLC owned 0.12% of Constellation Brands worth $51,351,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in shares of Constellation Brands by 17.2% during the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company's stock valued at $4,327,000 after acquiring an additional 2,526 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Constellation Brands by 15.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company's stock valued at $8,151,000 after purchasing an additional 4,311 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Constellation Brands by 35.8% in the 4th quarter. CoreCap Advisors LLC now owns 2,002 shares of the company's stock valued at $484,000 after acquiring an additional 528 shares during the last quarter. Teza Capital Management LLC bought a new position in Constellation Brands during the 3rd quarter valued at about $7,768,000. Finally, Nordea Investment Management AB boosted its holdings in Constellation Brands by 6.7% during the 4th quarter. Nordea Investment Management AB now owns 8,040 shares of the company's stock valued at $1,945,000 after acquiring an additional 507 shares during the period. Institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of NYSE:STZ traded down $0.28 during trading on Friday, reaching $271.76. 1,144,061 shares of the company's stock traded hands, compared to its average volume of 1,239,326. The company has a 50 day moving average of $253.37 and a 200-day moving average of $246.53. Constellation Brands, Inc. has a 12 month low of $217.05 and a 12 month high of $273.65. The stock has a market capitalization of $49.68 billion, a P/E ratio of 32.16, a price-to-earnings-growth ratio of 1.89 and a beta of 1.75. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Friday, January 5th. The company reported $3.19 EPS for the quarter, topping analysts' consensus estimates of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the prior year, the company posted $2.83 earnings per share. The firm's revenue was up 1.4% on a year-over-year basis. On average, equities analysts expect that Constellation Brands, Inc. will post 11.92 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a $0.89 dividend. This represents a $3.56 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Wednesday, February 7th. Constellation Brands's dividend payout ratio (DPR) is presently 42.13%.

Insider Activity at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 354,616 shares of the business's stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the completion of the sale, the insider now owns 54,461 shares in the company, valued at $13,629,409.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 16.19% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on STZ shares. TheStreet lowered shares of Constellation Brands from a "b" rating to a "c+" rating in a report on Friday, January 5th. Bank of America lifted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a "buy" rating in a report on Monday, March 18th. Argus downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $309.00 to $301.00 and set an "overweight" rating for the company in a research note on Thursday, December 21st. Finally, Piper Sandler assumed coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an "overweight" rating and a $300.00 target price for the company. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Constellation Brands presently has an average rating of "Moderate Buy" and an average price target of $290.37.

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

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