Constellation Brands Inc (NYSE:STZ) Holdings Decreased by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Constellation Brands Inc. by 14.7%, now owning approximately 2.1 million shares valued at $385 million.
• The company reported earnings per share (EPS) of $3.22, missing analyst expectations, with revenue of $2.52 billion for the quarter.
• A quarterly dividend of $1.02 is set to be distributed on August 14th, reflecting a 2.4% yield despite a significant payout ratio of -170.71%.

Invesco Ltd. decreased its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 14.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,098,744 shares of the company's stock after selling 361,636 shares during the quarter. Invesco Ltd. owned 1.18% of Constellation Brands worth $385,162,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands in the fourth quarter valued at approximately $29,000. Optiver Holding B.V. acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $32,000. Rakuten Securities Inc. grew its position in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $38,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Insider Transactions at Constellation Brands

In other Constellation Brands 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 value of $138,749.00. Following the sale, 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 filing with the SEC, which can be accessed through this link. Insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

STZ stock traded up $0.37 during mid-day trading on Wednesday, reaching $170.35. The company had a trading volume of 1,429,446 shares, compared to its average volume of 1,653,920. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $30.03 billion, a P/E ratio of -71.28, a P/E/G ratio of 10.29 and a beta of 0.67. Constellation Brands Inc has a one year low of $159.35 and a one year high of $261.06. The stock's 50-day simple moving average is $168.76 and its two-hundred day simple moving average is $176.62.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.57 earnings per share. Research analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STZ shares. Bank of America raised their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research report on Tuesday, May 20th. Jefferies Financial Group raised shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price target for the stock from $194.00 to $205.00 in a research report on Monday, July 7th. Wells Fargo & Company decreased their price target 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. Finally, Raymond James Financial raised shares of Constellation Brands to a "strong-buy" rating in a research report on Monday, July 7th. Eleven 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.com, the company has an average rating of "Moderate Buy" and an average target price of $213.74.

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.