Azimuth Capital Investment Management LLC Trims Stock Position in Constellation Brands Inc $STZ

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Constellation Brands by 9.5%, selling 4,415 shares, leaving it with a total of 42,071 shares valued at approximately $7.72 million.
• Constellation Brands recently missed analysts' earnings estimates for the last quarter, reporting an EPS of $3.22 against an expected $3.45, alongside a revenue decline of 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02 per share, with an annualized dividend yield of 2.4%, despite a high dividend payout ratio of -170.71%.

Azimuth Capital Investment Management LLC reduced its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 42,071 shares of the company's stock after selling 4,415 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Constellation Brands were worth $7,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STZ. Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth $29,000. Optiver Holding B.V. acquired a new stake in shares of Constellation Brands during the fourth quarter worth $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the first quarter worth $32,000. Rakuten Securities Inc. boosted its stake in Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in Constellation Brands during the fourth quarter worth $44,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on STZ. Citigroup increased their target price on shares of Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their target price for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. Piper Sandler increased their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Needham & Company LLC increased their target price on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Constellation Brands currently has an average rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands Stock Down 0.7%

Shares of STZ traded down $1.25 during trading hours on Friday, reaching $168.26. 1,521,061 shares of the stock traded hands, compared to its average volume of 1,564,824. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a fifty day simple moving average of $168.67 and a 200 day simple moving average of $176.30. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $261.06. The company has a market cap of $29.66 billion, a price-to-earnings ratio of -70.40, a PEG ratio of 10.18 and a beta of 0.67.

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. On average, equities analysts forecast 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 was paid on Thursday, August 14th. Investors of record on Wednesday, July 30th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date was Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Insider Transactions at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The shares were 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 in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 12.45% of the company's stock.

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.