Constellation Brands Inc $STZ Shares Purchased by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors increased its stake in Constellation Brands by 3.8% in Q1, bringing its holdings to 260,122 shares valued at about $39.0 million. Institutional investors still own a large majority of the company, at 77.34%.
• Several analysts remain upbeat on the stock: TD Cowen reiterated a buy rating with a $174 target, and Needham reaffirmed buy and lifted its target to $185. The overall consensus remains a Moderate Buy with a $173 target price.
• Constellation Brands reported better-than-expected quarterly earnings of $1.90 per share on revenue of $1.92 billion, though revenue still fell 11.3% year over year. The company also raised its quarterly dividend to $1.03 per share, for an annualized yield of 2.8%.

Fort Washington Investment Advisors Inc. OH raised its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,122 shares of the company's stock after purchasing an additional 9,597 shares during the period. Fort Washington Investment Advisors Inc. OH owned 0.15% of Constellation Brands worth $39,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Christine Messmer PC purchased a new position in shares of Constellation Brands in the 1st quarter valued at $266,000. Poehling Capital Management INC. lifted its position in Constellation Brands by 0.6% in the first quarter. Poehling Capital Management INC. now owns 30,453 shares of the company's stock valued at $4,568,000 after acquiring an additional 172 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in Constellation Brands in the first quarter valued at $1,080,000. Kestra Private Wealth Services LLC boosted its stake in Constellation Brands by 11.8% in the first quarter. Kestra Private Wealth Services LLC now owns 13,133 shares of the company's stock valued at $1,970,000 after acquiring an additional 1,391 shares in the last quarter. Finally, Davis Investment Partners LLC acquired a new position in Constellation Brands in the first quarter valued at $210,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Key Stories Impacting Constellation Brands

Here are the key news stories impacting Constellation Brands this week:

• Positive Sentiment: RBC said Constellation Brands is likely to post in-line quarterly results and reiterated its outlook, which suggests the company may be on track heading into earnings. Constellation Brands Likely to Report In-Line Quarterly Results, Reiterate Outlook, RBC Says
• Positive Sentiment: TD Cowen reaffirmed its buy rating and set a $174 price target, implying meaningful upside from recent trading levels. Benzinga analyst update
• Positive Sentiment: Needham also reaffirmed a buy rating and raised its price target to $185, signaling continued confidence in the company’s long-term earnings potential. Benzinga analyst update

Insider Buying and Selling at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the transaction, the executive vice president owned 9,109 shares of the company's stock, valued at approximately $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.20% of the company's stock.

Constellation Brands Trading Up 1.3%

NYSE STZ opened at $146.37 on Friday. The firm's fifty day moving average is $146.88 and its two-hundred day moving average is $150.29. Constellation Brands Inc has a one year low of $126.45 and a one year high of $178.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.55 and a current ratio of 1.08. The firm has a market cap of $25.20 billion, a PE ratio of 15.26, a P/E/G ratio of 4.29 and a beta of 0.39.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business's quarterly revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.63 earnings per share. Analysts expect that Constellation Brands Inc will post 11.77 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. Constellation Brands's payout ratio is 42.96%.

Wall Street Analysts Forecast Growth

STZ has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $185.00 target price on shares of Constellation Brands in a research report on Friday. Wells Fargo & Company upped their target price on Constellation Brands from $180.00 to $185.00 and gave the company an "overweight" rating in a research report on Friday, April 10th. Evercore set a $175.00 price target on Constellation Brands and gave the stock an "outperform" rating in a research note on Friday, April 10th. Barclays lifted their price target on Constellation Brands from $151.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Finally, Bank of America reduced their price objective on Constellation Brands from $154.00 to $152.00 and set an "underperform" rating for the company in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $173.00.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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