Constellation Brands Inc (NYSE:STZ) Shares Sold by Raiffeisen Bank International AG

Key Points

• Raiffeisen Bank International AG significantly reduced its stake in Constellation Brands by 98.2%, selling 11,877 shares and holding only 218 shares at the end of the first quarter, worth $41,000.
• Recent earnings reports indicate that Constellation Brands missed analysts' expectations, posting $3.22 earnings per share against a target of $3.45 and a revenue of $2.52 billion versus the expected $2.57 billion.
• Constellation Brands has announced a $1.02 quarterly dividend, representing a yield of 2.4%, with the payout ratio currently at -170.71%.

Raiffeisen Bank International AG decreased its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 98.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 218 shares of the company's stock after selling 11,877 shares during the period. Raiffeisen Bank International AG's holdings in Constellation Brands were worth $41,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Piscataqua Savings Bank lifted its holdings in shares of Constellation Brands by 1.7% during the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock worth $683,000 after buying an additional 62 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Constellation Brands by 5.8% during the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock worth $207,000 after buying an additional 62 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Constellation Brands by 1.7% during the first quarter. World Investment Advisors now owns 3,801 shares of the company's stock worth $698,000 after buying an additional 62 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in shares of Constellation Brands by 0.9% during the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock worth $1,283,000 after buying an additional 64 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Constellation Brands by 3.0% during the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STZ. Deutsche Bank Aktiengesellschaft dropped their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a report on Thursday, June 5th. BMO Capital Markets dropped their price target on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group set a $225.00 price target on Constellation Brands and gave the company a "buy" rating in a research note on Friday, June 27th. JPMorgan Chase & Co. boosted their price target on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Finally, Piper Sandler boosted their price target on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Eleven investment 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 company presently has an average rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands Trading Up 0.2%

NYSE STZ opened at $170.70 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The firm has a market capitalization of $30.09 billion, a PE ratio of -71.42, a P/E/G ratio of 10.31 and a beta of 0.67. The stock's 50 day moving average is $169.60 and its 200 day moving average is $177.06.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm's quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.57 EPS. Research analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be given a dividend of $1.02 per share. 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 is -170.71%.

Insiders Place Their Bets

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the sale, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.