Charles Schwab Investment Management Inc. Has $352.75 Million Stock Holdings in Constellation Brands Inc (NYSE:STZ)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Constellation Brands by 7.8%, acquiring an additional 139,158 shares during the first quarter.
• Constellation Brands' recent quarterly earnings showed an EPS of $3.22, falling short of the consensus estimate of $3.45, with revenue down 5.5% year-over-year.
• The company declared a quarterly dividend of $1.02 per share, with an annualized dividend yield of 2.4%, despite a significant negative dividend payout ratio.

Charles Schwab Investment Management Inc. raised its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,922,122 shares of the company's stock after acquiring an additional 139,158 shares during the period. Charles Schwab Investment Management Inc. owned 1.08% of Constellation Brands worth $352,748,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in STZ. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands in the 4th quarter valued at approximately $29,000. Optiver Holding B.V. bought a new position in shares of Constellation Brands in the fourth quarter worth $31,000. Laurel Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the first quarter valued at $32,000. Rakuten Securities Inc. raised its stake in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Constellation Brands during the fourth quarter valued at about $44,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Down 1.4%

NYSE:STZ traded down $2.50 during trading hours on Friday, reaching $170.72. The company's stock had a trading volume of 1,386,497 shares, compared to its average volume of 1,805,695. The company has a market cap of $30.10 billion, a price-to-earnings ratio of -71.43, a price-to-earnings-growth ratio of 10.33 and a beta of 0.67. The business's 50-day moving average is $169.13 and its 200-day moving average is $176.81. Constellation Brands Inc has a one year low of $159.35 and a one year high of $261.06. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm posted $3.57 earnings per share. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm 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. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.4%. Constellation Brands's dividend payout ratio is presently -170.71%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STZ has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Roth Capital cut their target price on Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. The Goldman Sachs Group set a $225.00 price objective on Constellation Brands and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. upped their price objective on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

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.