Comerica Bank Decreases Stake in Constellation Brands Inc $STZ

Key Points

• Comerica Bank has reduced its stake in Constellation Brands Inc by 15.2%, selling 7,155 shares, and now holds 39,785 shares valued at approximately $7.3 million.
• Several hedge funds have recently increased their positions in Constellation Brands, indicating a growing interest in the stock among institutional investors.
• Constellation Brands reported a quarterly earnings miss, with earnings per share of $3.22, below the analyst consensus of $3.45, and a revenue decline of 5.5% compared to the previous year.

Comerica Bank reduced its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,785 shares of the company's stock after selling 7,155 shares during the period. Comerica Bank's holdings in Constellation Brands were worth $7,301,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quantitative Investment Management LLC bought a new position in shares of Constellation Brands in the 1st quarter worth $11,975,000. Cadence Bank lifted its holdings in shares of Constellation Brands by 0.5% in the 1st quarter. Cadence Bank now owns 37,212 shares of the company's stock worth $6,829,000 after purchasing an additional 182 shares in the last quarter. Allstate Corp lifted its holdings in shares of Constellation Brands by 81.1% in the 1st quarter. Allstate Corp now owns 9,026 shares of the company's stock worth $1,656,000 after purchasing an additional 4,041 shares in the last quarter. Compound Planning Inc. bought a new position in shares of Constellation Brands in the 1st quarter worth $256,000. Finally, Norinchukin Bank The lifted its holdings in shares of Constellation Brands by 14.8% in the 1st quarter. Norinchukin Bank The now owns 7,975 shares of the company's stock worth $1,464,000 after purchasing an additional 1,030 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 transaction of $138,749.00. Following the completion of the sale, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on STZ shares. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. Bank of America cut Constellation Brands from a "neutral" rating to an "underperform" rating and set a $150.00 price objective on the stock. in a research note on Tuesday, August 26th. Cowen restated a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. Wells Fargo & Company dropped their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Finally, Piper Sandler raised their price objective on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.35.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $2.73 during trading hours on Friday, hitting $161.82. 1,773,426 shares of the company's stock traded hands, compared to its average volume of 1,810,508. Constellation Brands Inc has a 12-month low of $156.17 and a 12-month high of $261.06. The stock has a market capitalization of $28.53 billion, a price-to-earnings ratio of -67.71, a PEG ratio of 0.44 and a beta of 0.67. The company has a fifty day simple moving average of $168.32 and a 200-day simple moving average of $175.79. 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 announced its 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). 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 analysts' expectations of $2.57 billion. During the same period in the prior year, the business earned $3.57 earnings per share. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. Equities research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 2.5%. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

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.