Ables Iannone Moore & Associates Inc. Acquires 2,171 Shares of Constellation Brands Inc $STZ

Key Points

• Ables Iannone Moore & Associates Inc. increased its stake in Constellation Brands by 21.6%, acquiring an additional 2,171 shares and bringing total holdings to 12,219 shares.
• Several analysts downgraded Constellation Brands, with price targets significantly reduced, including BMO Capital Markets lowering its target from $215 to $190 and Zacks Research downgrading to a "strong sell" rating.
• Constellation Brands has recently reported a loss of $0.23 per share compared to estimates, which correlates with a 5.5% decline in quarterly revenue year-over-year.

Ables Iannone Moore & Associates Inc. grew its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 21.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,219 shares of the company's stock after acquiring an additional 2,171 shares during the quarter. Constellation Brands accounts for approximately 1.2% of Ables Iannone Moore & Associates Inc.'s investment portfolio, making the stock its 20th biggest position. Ables Iannone Moore & Associates Inc.'s holdings in Constellation Brands were worth $1,988,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of STZ. Thurston Springer Miller Herd & Titak Inc. lifted its position in Constellation Brands by 63.2% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,475 shares of the company's stock worth $240,000 after purchasing an additional 571 shares during the period. Confluence Investment Management LLC lifted its position in Constellation Brands by 1.5% during the second quarter. Confluence Investment Management LLC now owns 143,508 shares of the company's stock worth $23,346,000 after purchasing an additional 2,135 shares during the period. Harbor Investment Advisory LLC lifted its position in Constellation Brands by 40.8% during the second quarter. Harbor Investment Advisory LLC now owns 1,094 shares of the company's stock worth $178,000 after purchasing an additional 317 shares during the period. AG2R LA Mondiale Gestion D Actifs bought a new stake in Constellation Brands during the first quarter worth about $1,190,000. Finally, First Hawaiian Bank lifted its position in Constellation Brands by 12.8% during the first quarter. First Hawaiian Bank now owns 3,864 shares of the company's stock worth $709,000 after purchasing an additional 438 shares during the period. Institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STZ shares. BMO Capital Markets cut their price objective on shares of Constellation Brands from $215.00 to $190.00 and set an "outperform" rating for the company in a research report on Thursday, September 4th. BNP Paribas Exane cut shares of Constellation Brands from a "neutral" rating to an "underperform" rating and set a $123.00 price objective for the company. in a research report on Wednesday, September 3rd. Zacks Research downgraded Constellation Brands from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Barclays reissued an "equal weight" rating and set a $150.00 target price (down previously from $202.00) on shares of Constellation Brands in a research note on Friday. Finally, The Goldman Sachs Group lowered their target price on Constellation Brands from $225.00 to $196.00 and set a "buy" rating for the company in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Constellation Brands has an average rating of "Hold" and a consensus price target of $192.28.

Constellation Brands Stock Performance

Constellation Brands stock opened at $139.52 on Friday. The business has a 50 day moving average of $164.56 and a 200-day moving average of $174.11. Constellation Brands Inc has a 1 year low of $139.45 and a 1 year high of $261.06. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The company has a market capitalization of $24.60 billion, a P/E ratio of -58.38, a P/E/G ratio of 0.43 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.57 billion. During the same period in the prior year, the company earned $3.57 EPS. The business's quarterly revenue was down 5.5% compared to the same quarter last year. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were paid a $1.02 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.9%. Constellation Brands's dividend payout ratio is currently -170.71%.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the transaction, 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 filing with the SEC, which is available through this hyperlink. 12.45% of the stock is owned by corporate 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.

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