Eagle Global Advisors LLC Purchases Shares of 2,201 Constellation Brands Inc (NYSE:STZ)

Key Points

• Eagle Global Advisors LLC acquired 2,201 shares of Constellation Brands Inc valued at approximately $404,000, marking a notable investment by the institutional investor.
• Constellation Brands' stock fell by 1.1% to open at $168.78, with the company's latest earnings report revealing a miss on EPS expectations.
• The company recently announced a quarterly dividend of $1.02 per share, representing a yield of 2.4%, despite a negative dividend payout ratio of -170.71%.

Eagle Global Advisors LLC acquired a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,201 shares of the company's stock, valued at approximately $404,000.

A number of other hedge funds also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at approximately $647,000. Meridian Wealth Management LLC raised its stake in shares of Constellation Brands by 9.5% during the first quarter. Meridian Wealth Management LLC now owns 1,998 shares of the company's stock valued at $367,000 after purchasing an additional 173 shares during the period. Linscomb Wealth Inc. raised its stake in shares of Constellation Brands by 5.4% during the first quarter. Linscomb Wealth Inc. now owns 13,294 shares of the company's stock valued at $2,440,000 after purchasing an additional 685 shares during the period. Nuveen LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at approximately $63,377,000. Finally, Cooper Financial Group raised its stake in shares of Constellation Brands by 9.4% during the first quarter. Cooper Financial Group now owns 3,568 shares of the company's stock valued at $655,000 after purchasing an additional 307 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays set a $202.00 price objective on shares of Constellation Brands and gave the company an "overweight" rating in a research note on Thursday, June 26th. The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the stock a "buy" rating in a research note on Friday, June 27th. Bank of America lifted their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $194.00 to $205.00 in a research note on Monday, July 7th. Finally, Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Performance

Shares of STZ traded up $0.37 during midday trading on Wednesday, hitting $170.35. 1,429,446 shares of the stock traded hands, compared to its average volume of 1,653,920. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The firm has a market capitalization of $30.03 billion, a PE ratio of -71.28, a price-to-earnings-growth ratio of 10.29 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The business's 50 day moving average price is $168.76 and its two-hundred day moving average price is $176.62.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm posted $3.57 EPS. The business's revenue was down 5.5% compared to the same quarter last year. Equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.4%. Constellation Brands's dividend payout ratio is presently -170.71%.

About Constellation Brands

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.