Bank of America Corp DE Purchases 121,515 Shares of Constellation Brands Inc $STZ

Key Points

• Bank of America increased its Constellation Brands stake by 9.5%, purchasing 121,515 shares to reach 1.40 million shares valued at approximately $210.5 million. Institutional investors collectively own 77.34% of the company.
• Analyst sentiment is mixed, with 11 Buy, nine Hold and two Sell ratings; the consensus rating is Hold, with an average price target of $167.53 versus the stock’s recent price of $131.06.
• Constellation Brands missed quarterly earnings expectations, reporting $3.43 in EPS versus the $3.70 consensus, while revenue declined 3.3% year over year. The company declared a quarterly dividend of $1.03 per share, representing a 3.1% annualized yield.

Bank of America Corp DE grew its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,403,275 shares of the company's stock after buying an additional 121,515 shares during the quarter. Bank of America Corp DE owned 0.81% of Constellation Brands worth $210,491,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Edgestream Partners L.P. purchased a new position in shares of Constellation Brands during the first quarter valued at approximately $334,000. Kentucky Retirement Systems lifted its stake in Constellation Brands by 51.6% during the 1st quarter. Kentucky Retirement Systems now owns 13,756 shares of the company's stock valued at $2,063,000 after acquiring an additional 4,684 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Constellation Brands by 5.7% during the 1st quarter. Janus Henderson Group PLC now owns 585,891 shares of the company's stock worth $87,884,000 after acquiring an additional 31,749 shares during the last quarter. Oddo BHF Asset Management Sas grew its stake in shares of Constellation Brands by 3.3% in the 1st quarter. Oddo BHF Asset Management Sas now owns 10,908 shares of the company's stock worth $1,636,000 after acquiring an additional 353 shares in the last quarter. Finally, Amundi raised its holdings in shares of Constellation Brands by 15.1% in the first quarter. Amundi now owns 412,470 shares of the company's stock valued at $61,870,000 after purchasing an additional 54,158 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Roth Capital restated a "buy" rating and set a $209.00 price target on shares of Constellation Brands in a report on Thursday, July 2nd. Evercore set a $175.00 target price on Constellation Brands and gave the company an "outperform" rating in a report on Friday, April 10th. Piper Sandler reaffirmed a "neutral" rating and set a $160.00 price target on shares of Constellation Brands in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Constellation Brands from $155.00 to $150.00 and set a "hold" rating for the company in a research report on Thursday, July 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Thursday, July 2nd. Eleven analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Hold" and an average price target of $167.53.

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares in the company, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.20% of the company's stock.

Constellation Brands Trading Down 0.2%

NYSE:STZ opened at $131.06 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $22.38 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 4.09 and a beta of 0.40. The firm's 50 day moving average is $136.95 and its 200 day moving average is $148.40. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $174.32.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.27). Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The firm had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the company posted $3.22 earnings per share. Constellation Brands's revenue for the quarter was down 3.3% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Sell-side analysts expect that Constellation Brands Inc will post 11.84 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, July 30th. Constellation Brands's dividend payout ratio is currently 39.31%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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