Canada Pension Plan Investment Board Sells 261,694 Shares of Constellation Brands Inc $STZ

Key Points

• The Canada Pension Plan Investment Board has reduced its holdings in Constellation Brands Inc by 80.1%, selling 261,694 shares and holding only 65,183 shares valued at approximately $11.96 million.
• Despite this sell-off, other large investors increased their stakes, with Harbor Capital Advisors growing its position by 36.4% and Golden State Wealth Management increasing by 137.0%.
• Constellation Brands recently reported quarterly earnings of $3.22 EPS, which missed analysts' expectations, as revenue declined 5.5% year-over-year, highlighting ongoing challenges for the company.

Canada Pension Plan Investment Board lessened its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 80.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,183 shares of the company's stock after selling 261,694 shares during the quarter. Canada Pension Plan Investment Board's holdings in Constellation Brands were worth $11,962,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in STZ. Harbor Capital Advisors Inc. grew its stake in shares of Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after buying an additional 815 shares during the last quarter. Golden State Wealth Management LLC grew its stake in shares of Constellation Brands by 137.0% in the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock worth $405,000 after acquiring an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Constellation Brands by 28.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after acquiring an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Constellation Brands by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock valued at $3,180,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after purchasing an additional 65 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.45% of the stock is owned by company insiders.

Constellation Brands Stock Up 1.7%

Constellation Brands stock opened at $161.82 on Tuesday. The stock has a market cap of $28.53 billion, a PE ratio of -67.71, a price-to-earnings-growth ratio of 0.44 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a fifty day moving average of $168.30 and a 200 day moving average of $175.87. Constellation Brands Inc has a one year low of $156.17 and a one year high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). The business had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. Constellation Brands's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.57 EPS. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, sell-side analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.5%. Constellation Brands's payout ratio is presently -170.71%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STZ shares. Barclays set a $202.00 price objective on shares of Constellation Brands and gave the company an "overweight" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. boosted their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. UBS Group increased their target price on Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. 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. Finally, CJS Securities lowered their price target on Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $212.35.

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.

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