Banque Cantonale Vaudoise Purchases New Holdings in Constellation Brands Inc (NYSE:STZ)

Key Points

• Banque Cantonale Vaudoise acquired a new position in Constellation Brands, purchasing 2,863 shares valued at approximately $525,000 during Q1.
• Constellation Brands recently announced a quarterly dividend of $1.02 per share, yielding 2.5%, with the payout set for August 14th.
• The company reported a net income decline with Q1 earnings of $3.22 per share, missing analyst expectations and reflecting a 5.5% year-over-year decrease in revenue.

Banque Cantonale Vaudoise acquired a new position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,863 shares of the company's stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital World Investors boosted its position in shares of Constellation Brands by 3.4% in the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after purchasing an additional 324,690 shares in the last quarter. Berkshire Hathaway Inc bought a new stake in Constellation Brands in the fourth quarter worth $1,242,976,000. Capital Research Global Investors grew its stake in shares of Constellation Brands by 0.6% in the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after acquiring an additional 18,557 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Constellation Brands by 42.9% during the fourth 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 in the last quarter. Finally, FMR LLC raised its position in shares of Constellation Brands by 18.3% in the 4th quarter. FMR LLC now owns 1,641,087 shares of the company's stock worth $362,680,000 after purchasing an additional 253,740 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the 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 approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands 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 completion of the sale, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. The trade was a 50.19% 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 Performance

STZ opened at $166.25 on Friday. The company has a 50 day simple moving average of $170.18 and a two-hundred day simple moving average of $177.27. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The firm has a market cap of $29.31 billion, a P/E ratio of -69.56, a PEG ratio of 10.11 and a beta of 1.75. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results 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 negative net margin of 4.11% and a positive return on equity of 31.41%. The business had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. During the same period in the prior year, the business earned $3.57 earnings per share. Constellation Brands's revenue was down 5.5% compared to the same quarter last year. Equities analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Ratings Changes

A number of research firms have weighed in on STZ. Citigroup raised their price objective on shares of Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. CJS Securities reduced their price target on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Jefferies Financial Group upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $194.00 to $205.00 in a report on Monday, July 7th. Deutsche Bank Aktiengesellschaft cut their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Finally, Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $213.74.

Constellation Brands Company 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.

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