Cambridge Investment Research Advisors Inc. Sells 10,609 Shares of Constellation Brands Inc (NYSE:STZ)

Cambridge Investment Research Advisors Inc. lowered its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 41.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,904 shares of the company's stock after selling 10,609 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Constellation Brands were worth $2,735,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Piscataqua Savings Bank grew its holdings in Constellation Brands by 1.7% during the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock worth $683,000 after acquiring an additional 62 shares in the last quarter. Moody National Bank Trust Division lifted its position in shares of Constellation Brands by 0.9% during the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock worth $1,283,000 after purchasing an additional 64 shares during the last quarter. Barden Capital Management Inc. grew its stake in Constellation Brands by 1.3% in the fourth quarter. Barden Capital Management Inc. now owns 5,574 shares of the company's stock worth $1,232,000 after purchasing an additional 72 shares in the last quarter. Vista Investment Management increased its holdings in Constellation Brands by 0.7% in the fourth quarter. Vista Investment Management now owns 11,479 shares of the company's stock valued at $2,537,000 after buying an additional 84 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in Constellation Brands by 4.5% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company's stock valued at $439,000 after buying an additional 86 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Stock Performance

STZ traded down $1.58 during trading on Thursday, reaching $172.29. 1,796,591 shares of the company's stock were exchanged, compared to its average volume of 1,913,857. The company has a market capitalization of $30.67 billion, a P/E ratio of -72.09, a PEG ratio of 9.20 and a beta of 0.67. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. The business has a 50 day moving average price of $177.66 and a 200 day moving average price of $184.47. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $264.45.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a positive return on equity of 31.15% and a negative net margin of 4.11%. The business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the company earned $3.57 EPS. As a group, analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were issued a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.37%. Constellation Brands's dividend payout ratio (DPR) is presently -800.00%.

Analyst Ratings Changes

Several brokerages have recently commented on STZ. Piper Sandler lifted their target price on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. UBS Group raised their price objective on Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday. CJS Securities decreased their price objective on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Bank of America increased their target price on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $213.35.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.45% of the company's stock.

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.