Constellation Brands Inc (NYSE:STZ) Position Lessened by Argent Trust Co

Key Points

• Argent Trust Co has decreased its holdings in Constellation Brands Inc by 18.4%, owning 6,952 shares worth approximately $1.28 million at the end of the reporting period.
• Analysts have adjusted their price targets for Constellation Brands, with the average target now at $213.74, reflecting a consensus rating of "Moderate Buy."
• Constellation Brands recently reported earnings per share of $3.22, missing estimates, and announced a quarterly dividend of $1.02 per share with a yield of 2.4%.

Argent Trust Co lowered its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 18.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,952 shares of the company's stock after selling 1,570 shares during the period. Argent Trust Co's holdings in Constellation Brands were worth $1,276,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in STZ. Minot DeBlois Advisors LLC purchased a new position in shares of Constellation Brands in the fourth quarter valued at $29,000. Optiver Holding B.V. acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $31,000. Laurel Wealth Advisors LLC purchased a new position in Constellation Brands during the first quarter worth $32,000. Rakuten Securities Inc. raised its holdings in shares of Constellation Brands by 805.0% in the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Constellation Brands during the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

STZ has been the topic of several recent analyst reports. Jefferies Financial Group raised shares of Constellation Brands from a "hold" rating to a "buy" rating and upped their price objective for the company from $194.00 to $205.00 in a research note on Monday, July 7th. Cowen reissued a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. BMO Capital Markets dropped their price objective on shares of Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 25th. Finally, Needham & Company LLC upped their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Stock Down 0.7%

STZ stock traded down $1.21 during trading on Wednesday, reaching $169.44. The stock had a trading volume of 1,306,212 shares, compared to its average volume of 1,854,233. The firm has a fifty day moving average price of $169.60 and a 200 day moving average price of $177.06. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $29.87 billion, a P/E ratio of -70.89, a PEG ratio of 10.33 and a beta of 0.67. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results 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 business 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 EPS. The company's revenue was down 5.5% compared to the same quarter last year. On average, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.4%. Constellation Brands's dividend payout ratio is currently -170.71%.

Insider Buying and Selling at Constellation Brands

In related 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 value of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares in the company, valued at approximately $1,595,022. This trade represents 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. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The shares were 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. The trade was a 50.19% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.45% of the company's stock.

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.