Victory Capital Management Inc. Lowers Stake in Constellation Brands Inc (NYSE:STZ)

Victory Capital Management Inc. lowered its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,954 shares of the company's stock after selling 6,790 shares during the period. Victory Capital Management Inc.'s holdings in Constellation Brands were worth $9,902,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in STZ. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands in the 4th quarter valued at $29,000. Optiver Holding B.V. acquired a new stake in Constellation Brands in the 4th quarter valued at about $31,000. Laurel Wealth Advisors LLC acquired a new stake in Constellation Brands in the 1st quarter valued at about $32,000. Rakuten Securities Inc. raised its position in shares of Constellation Brands by 805.0% during the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Constellation Brands during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.0%

Shares of NYSE:STZ traded down $0.03 during mid-day trading on Friday, reaching $175.61. 1,014,120 shares of the company's stock were exchanged, compared to its average volume of 2,480,315. The firm has a market capitalization of $30.96 billion, a price-to-earnings ratio of -73.48, a PEG ratio of 10.62 and a beta of 1.75. The business's fifty day moving average price is $171.87 and its 200-day moving average price is $177.92. 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 twelve month low of $159.35 and a twelve month high of $261.06.

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 the consensus estimate 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 company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same period last year, the firm posted $3.57 earnings per share. The company's revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STZ shares. The Goldman Sachs Group set a $225.00 target price on Constellation Brands and gave the company a "buy" rating in a research note on Friday, June 27th. Jefferies Financial Group raised Constellation Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $194.00 to $205.00 in a research report on Monday, July 7th. Roth Capital lowered their price target on Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. JPMorgan Chase & Co. upped their target price on Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Wells Fargo & Company cut their price objective on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Eleven 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. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insider Buying and Selling

In other news, 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 completion of the sale, the executive vice president owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This represents a 8.00% decrease in their position. The sale 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 stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares of the company's stock, valued at $589,376.04. The trade was a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is owned by insiders.

Constellation Brands Company 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.