AMI Asset Management Corp Sells 7,027 Shares of Constellation Brands Inc (NYSE:STZ)

AMI Asset Management Corp reduced its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 153,372 shares of the company's stock after selling 7,027 shares during the quarter. AMI Asset Management Corp owned 0.08% of Constellation Brands worth $28,147,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Harbor Capital Advisors Inc. grew its position in shares of Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares during the period. SBI Securities Co. Ltd. bought a new position in Constellation Brands in the fourth quarter valued at approximately $26,000. Johnson Investment Counsel Inc. boosted its holdings in shares of Constellation Brands by 8.1% in the first quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company's stock valued at $458,000 after buying an additional 187 shares during the period. Farther Finance Advisors LLC increased its position in shares of Constellation Brands by 179.2% during the first quarter. Farther Finance Advisors LLC now owns 2,069 shares of the company's stock worth $382,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its position in shares of Constellation Brands by 39.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after acquiring an additional 1,733 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research reports. UBS Group set a $195.00 price objective on shares of Constellation Brands and gave the company a "buy" rating in a research report on Wednesday. CJS Securities dropped their price target on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Piper Sandler upped their price objective on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. Wells Fargo & Company decreased their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Citigroup dropped their target price on Constellation Brands from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 18th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Insider Transactions at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now owns 3,126 shares of the company's stock, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

Constellation Brands stock traded down $0.16 during midday trading on Thursday, reaching $161.37. 2,097,793 shares of the company's stock were exchanged, compared to its average volume of 1,859,573. The stock's 50-day simple moving average is $179.85 and its 200 day simple moving average is $187.09. The firm has a market cap of $28.73 billion, a price-to-earnings ratio of -316.41, a P/E/G ratio of 9.07 and a beta of 0.70. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.92. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $264.45.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, topping the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a positive return on equity of 29.56% and a negative net margin of 0.74%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.26 EPS. On average, analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend was Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

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.