ANB Bank Boosts Stock Holdings in Constellation Brands Inc (NYSE:STZ)

Key Points

• ANB Bank has increased its holdings in Constellation Brands Inc by 49.7% during the 1st quarter, with its total investment valued at $961,000.
• Constellation Brands recently reported a quarterly revenue of $2.52 billion, which missed analyst estimates, alongside an EPS of $3.22, falling short of the consensus of $3.45.
• The company announced a quarterly dividend of $1.02 per share, with a payout ratio currently at -170.71%, and a dividend yield of 2.32%.

ANB Bank grew its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 49.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,234 shares of the company's stock after purchasing an additional 1,737 shares during the quarter. ANB Bank's holdings in Constellation Brands were worth $961,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Capital World Investors lifted its position in shares of Constellation Brands by 3.4% during the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after acquiring an additional 324,690 shares during the period. Berkshire Hathaway Inc acquired a new position in shares of Constellation Brands during the 4th quarter valued at $1,242,976,000. Geode Capital Management LLC lifted its position in shares of Constellation Brands by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock valued at $705,844,000 after acquiring an additional 63,323 shares during the period. Capital Research Global Investors lifted its position in shares of Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after acquiring an additional 18,557 shares during the period. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after acquiring an additional 736,780 shares during the period. 77.34% of the stock is owned by institutional investors.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP James O. Bourdeau sold 821 shares of the firm'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 sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The disclosure for this sale can be found here. Company insiders own 12.45% of the company's stock.

Constellation Brands Stock Down 1.3%

Shares of STZ stock traded down $2.34 on Monday, hitting $173.19. The stock had a trading volume of 458,154 shares, compared to its average volume of 2,483,244. The business has a 50 day moving average of $171.87 and a 200 day moving average of $177.63. The stock has a market cap of $30.53 billion, a price-to-earnings ratio of -72.59, a price-to-earnings-growth ratio of 10.62 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter last year, the business posted $3.57 EPS. The business's quarterly revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

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 dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.36%. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STZ. Cowen reiterated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Bernstein Bank dropped their target price on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Roth Capital dropped their target price on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Piper Sandler boosted their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Finally, BMO Capital Markets lowered their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Eleven 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Constellation Brands 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.