Constellation Brands Inc (NYSE:STZ) Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Constellation Brands by 13.6%, now holding approximately 1,185,487 shares valued at $217.56 million.
• Several institutional investors, including Ethic Inc. and EverSource Wealth Advisors LLC, increased their holdings in Constellation Brands significantly, reflecting a mixed sentiment among investors.
• Constellation Brands reported a miss in earnings with $3.22 EPS compared to expectations of $3.45 EPS, alongside a 5.5% decline in revenue year-over-year.

American Century Companies Inc. cut its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,185,487 shares of the company's stock after selling 186,998 shares during the period. American Century Companies Inc. owned about 0.67% of Constellation Brands worth $217,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ethic Inc. increased its holdings in Constellation Brands by 16.8% in the first quarter. Ethic Inc. now owns 35,799 shares of the company's stock valued at $6,616,000 after buying an additional 5,151 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Constellation Brands by 82.3% in the first quarter. EverSource Wealth Advisors LLC now owns 4,040 shares of the company's stock valued at $741,000 after buying an additional 1,824 shares in the last quarter. Aberdeen Group plc increased its holdings in Constellation Brands by 93.0% in the first quarter. Aberdeen Group plc now owns 131,748 shares of the company's stock valued at $24,156,000 after buying an additional 63,481 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Constellation Brands by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company's stock valued at $310,851,000 after buying an additional 76,186 shares in the last quarter. Finally, Horizon Investments LLC increased its holdings in Constellation Brands by 3.9% in the first quarter. Horizon Investments LLC now owns 2,723 shares of the company's stock valued at $497,000 after buying an additional 103 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STZ. Roth Capital cut their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research note on Thursday, June 5th. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. Finally, Barclays set a $202.00 target price on shares of Constellation Brands and gave the stock an "overweight" rating in a research note on Thursday, June 26th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of STZ stock opened at $168.26 on Friday. The firm's 50 day moving average price is $168.67 and its 200-day moving average price is $176.39. 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 firm has a market cap of $29.66 billion, a P/E ratio of -70.40, a P/E/G ratio of 10.26 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS 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 in the prior year, the company posted $3.57 earnings per share. The business's revenue was down 5.5% compared to the same quarter last year. As a group, 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 was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were issued 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 yield of 2.4%. Constellation Brands's dividend payout ratio is -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.

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