Cerity Partners LLC Reduces Stock Position in Constellation Brands Inc (NYSE:STZ)

Cerity Partners LLC cut its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,053 shares of the company's stock after selling 20,995 shares during the period. Cerity Partners LLC owned about 0.06% of Constellation Brands worth $19,279,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Peddock Capital Advisors LLC lifted its stake in Constellation Brands by 2.8% in the first quarter. Peddock Capital Advisors LLC now owns 18,871 shares of the company's stock valued at $3,463,000 after purchasing an additional 507 shares during the last quarter. GFG Capital LLC purchased a new position in Constellation Brands in the first quarter valued at approximately $241,000. Linden Thomas Advisory Services LLC lifted its stake in Constellation Brands by 5.2% in the first quarter. Linden Thomas Advisory Services LLC now owns 7,118 shares of the company's stock valued at $1,306,000 after purchasing an additional 350 shares during the last quarter. CORDA Investment Management LLC. purchased a new position in Constellation Brands in the first quarter valued at approximately $22,820,000. Finally, Personal CFO Solutions LLC lifted its stake in Constellation Brands by 26.0% in the first quarter. Personal CFO Solutions LLC now owns 3,308 shares of the company's stock valued at $607,000 after purchasing an additional 682 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

STZ traded up $3.61 during trading on Thursday, reaching $171.73. The stock had a trading volume of 2,362,132 shares, compared to its average volume of 1,939,570. The stock has a market cap of $30.27 billion, a PE ratio of -71.85, a PEG ratio of 10.18 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. Constellation Brands Inc has a one year low of $159.35 and a one year high of $261.06. The business has a 50-day moving average of $173.86 and a 200-day moving average of $180.18.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.38%. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STZ shares. Piper Sandler increased 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. CJS Securities dropped their target price on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Bernstein Bank dropped their target price on Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research report on Thursday, April 10th. Barclays set a $202.00 target price on Constellation Brands and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company dropped their target price on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insider Activity

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.45% of the company's stock.

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.