Confluence Investment Management LLC Raises Holdings in Constellation Brands Inc $STZ

Key Points

• Confluence Investment Management LLC increased its holdings in Constellation Brands by 1.5% during the 2nd quarter, now owning approximately 143,508 shares valued at about $23.35 million.
• Constellation Brands reported earnings per share of $3.22 for the quarter, missing analysts' estimates of $3.45, and its quarterly revenue fell by 5.5% year-over-year.
• The company recently announced a quarterly dividend of $1.02 per share, representing an annual yield of 2.9%, despite a negative payout ratio of -170.71%.

Confluence Investment Management LLC increased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 1.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 143,508 shares of the company's stock after acquiring an additional 2,135 shares during the period. Confluence Investment Management LLC owned approximately 0.08% of Constellation Brands worth $23,346,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. grew its position in Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after acquiring an additional 815 shares during the period. Glenview Trust co boosted its position in shares of Constellation Brands by 6.8% during the first quarter. Glenview Trust co now owns 69,427 shares of the company's stock worth $12,741,000 after buying an additional 4,421 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Constellation Brands by 137.0% during the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock worth $405,000 after buying an additional 1,274 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Constellation Brands by 28.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after buying an additional 1,651 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position 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 worth $3,180,000 after buying an additional 1,185 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Down 2.4%

Constellation Brands stock opened at $139.52 on Friday. Constellation Brands Inc has a 1-year low of $139.45 and a 1-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. The stock has a market cap of $24.60 billion, a PE ratio of -58.38, a P/E/G ratio of 0.43 and a beta of 0.67. The stock's fifty day moving average is $164.56 and its two-hundred day moving average is $174.13.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly 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 negative net margin of 4.11% and a positive return on equity of 31.41%. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the prior year, the business earned $3.57 earnings per share. The firm's quarterly revenue was down 5.5% on a year-over-year basis. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. On average, sell-side analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company 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 was Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands's payout ratio is -170.71%.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

STZ has been the subject of several research analyst reports. CJS Securities lowered their price target on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Jefferies Financial Group lowered their price target on Constellation Brands from $205.00 to $179.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. Needham & Company LLC lowered their price target on Constellation Brands from $200.00 to $180.00 and set a "buy" rating for the company in a research report on Wednesday, September 3rd. The Goldman Sachs Group lowered their price target on Constellation Brands from $225.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday, September 2nd. Finally, Barclays restated an "equal weight" rating and set a $150.00 price target (down from $202.00) on shares of Constellation Brands in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $192.28.

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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