Applied Finance Capital Management LLC Has $14.81 Million Position in Constellation Brands Inc (NYSE:STZ)

Key Points

• Applied Finance Capital Management LLC reduced its stake in Constellation Brands by 34.8%, selling 43,130 shares, leaving them with 80,673 shares valued at approximately $14.8 million.
• Multiple hedge funds have increased their holdings in Constellation Brands, with notable increases of 21.5% from Benedict Financial Advisors and 56.3% from Diamond Hill Capital Management.
• Constellation Brands announced a quarterly dividend of $1.02 per share, set to be paid on August 14th, reflecting a 2.32% dividend yield.

Applied Finance Capital Management LLC lowered its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 34.8% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,673 shares of the company's stock after selling 43,130 shares during the period. Applied Finance Capital Management LLC's holdings in Constellation Brands were worth $14,805,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $29,000. Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $31,000. Laurel Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the first quarter valued at approximately $32,000. Rakuten Securities Inc. raised its holdings in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after buying an additional 161 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $44,000. Institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DA Davidson cut their price target on Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. UBS Group raised their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. The Goldman Sachs Group set a $225.00 price objective on shares of Constellation Brands and gave the company a "buy" rating in a research note on Friday, June 27th. Morgan Stanley lowered their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Eleven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James O. Bourdeau sold 821 shares of the firm'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 transaction of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. This 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 Price Performance

Constellation Brands stock traded down $1.11 during mid-day trading on Wednesday, hitting $173.70. The company's stock had a trading volume of 507,076 shares, compared to its average volume of 2,468,712. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $30.62 billion, a P/E ratio of -72.69, a P/E/G ratio of 10.45 and a beta of 1.75. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The stock's fifty day moving average price is $171.19 and its two-hundred day moving average price is $177.55.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 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 analyst estimates of $2.57 billion. During the same period in the prior year, the business posted $3.57 EPS. The company's revenue for the quarter was down 5.5% on a year-over-year basis. Research analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

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.