Commonwealth Equity Services LLC Has $22.65 Million Position in Constellation Brands Inc (NYSE:STZ)

Key Points

• Commonwealth Equity Services LLC increased its stake in Constellation Brands by 5.8%, owning approximately $22.65 million worth of the stock as of its latest SEC filing.
• Constellation Brands reported a miss in earnings with $3.22 per share, below analysts' expectations of $3.45, and experienced a revenue decrease of 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02 per share, indicating a dividend yield of 2.4%, despite having a negative payout ratio of -170.71%.

Commonwealth Equity Services LLC grew its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 5.8% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 123,405 shares of the company's stock after acquiring an additional 6,748 shares during the quarter. Commonwealth Equity Services LLC owned about 0.07% of Constellation Brands worth $22,647,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Haven Private LLC bought a new position in shares of Constellation Brands in the first quarter worth $346,000. Liberty Wealth Management LLC bought a new position in Constellation Brands in the 1st quarter valued at about $7,205,000. Banco Santander S.A. acquired a new position in shares of Constellation Brands in the 1st quarter valued at approximately $247,000. TIAA Trust National Association lifted its holdings in shares of Constellation Brands by 3,509.4% during the 1st quarter. TIAA Trust National Association now owns 92,943 shares of the company's stock worth $17,057,000 after acquiring an additional 90,368 shares during the period. Finally, Jefferies Financial Group Inc. boosted its position in shares of Constellation Brands by 43.3% during the 1st quarter. Jefferies Financial Group Inc. now owns 6,122 shares of the company's stock worth $1,123,000 after acquiring an additional 1,851 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 company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.45% of the company's stock.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent analyst reports. DA Davidson cut their target price on Constellation Brands from $272.00 to $241.00 in a research note on Friday, April 11th. BMO Capital Markets reduced their price objective on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. CJS Securities lowered their target price on Constellation Brands from $196.00 to $194.00 in a research note on Monday, May 19th. Morgan Stanley reduced their price target on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Stock Performance

Shares of STZ opened at $169.44 on Thursday. Constellation Brands Inc has a one year low of $159.35 and a one year high of $261.06. The company has a market cap of $29.87 billion, a PE ratio of -70.89, a P/E/G ratio of 10.33 and a beta of 0.67. The stock has a 50-day moving average of $169.41 and a 200-day moving average of $177.00. 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 issued its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same period in the previous year, the company earned $3.57 earnings per share. Constellation Brands's revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities research analysts predict 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 will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.4%. Constellation Brands's payout ratio is presently -170.71%.

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.

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