Allstate Corp Buys 4,041 Shares of Constellation Brands Inc $STZ

Key Points

• Allstate Corp significantly increased its investment in Constellation Brands Inc by 81.1% during the first quarter, now holding shares worth approximately $1.66 million.
• Several institutional investors, including Harbor Capital Advisors and Golden State Wealth Management, also raised their stakes in Constellation Brands, indicating strong overall institutional interest.
• Constellation Brands recently announced a quarterly dividend of $1.02 per share, representing an annualized yield of 2.4%, despite a projected negative dividend payout ratio of -170.71%.

Allstate Corp lifted its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 81.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,026 shares of the company's stock after buying an additional 4,041 shares during the period. Allstate Corp's holdings in Constellation Brands were worth $1,656,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Constellation Brands by 18.6% in the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company's stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares in the last quarter. Berkshire Hathaway Inc acquired a new stake in Constellation Brands during the fourth quarter worth approximately $1,242,976,000. Wellington Management Group LLP grew its stake in Constellation Brands by 127.9% during the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company's stock worth $822,314,000 after purchasing an additional 2,514,517 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Constellation Brands by 7.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company's stock worth $352,748,000 after purchasing an additional 139,158 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Constellation Brands by 4.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company's stock worth $310,851,000 after purchasing an additional 76,186 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.45% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

Constellation Brands stock traded down $5.23 during mid-day trading on Tuesday, reaching $158.45. 4,563,794 shares of the company's stock were exchanged, compared to its average volume of 1,637,433. The business's fifty day simple moving average is $168.34 and its 200 day simple moving average is $175.85. The firm has a market capitalization of $27.93 billion, a PE ratio of -66.30, a P/E/G ratio of 9.91 and a beta of 0.67. Constellation Brands Inc has a one year low of $156.17 and a one year high of $261.06. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same period in the prior year, the business earned $3.57 earnings per share. 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, sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were given a $1.02 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.6%. Constellation Brands's payout ratio is -170.71%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group set a $225.00 target price on Constellation Brands and gave the stock a "buy" rating in a research note on Friday, June 27th. Citigroup reaffirmed a "negative" rating on shares of Constellation Brands in a research note on Monday. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Wells Fargo & Company cut their price target on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Finally, CJS Securities cut their price target on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, Constellation Brands has an average rating of "Moderate Buy" and a consensus price target of $212.35.

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.