Alliancebernstein L.P. Sells 329,039 Shares of Constellation Brands Inc $STZ

Key Points

• Alliancebernstein L.P. reduced its stake in Constellation Brands Inc by 14.5%, owning 1.09% of the company worth approximately $356 million after selling 329,039 shares in the first quarter.
• Analysts have mixed ratings for Constellation Brands, with one Strong Buy, thirteen Buy, seven Hold, and four Sell ratings, and an average target price of $200.67.
• Constellation Brands recently declared a quarterly dividend of $1.02, with a dividend yield of 2.8%, despite having a negative payout ratio of -170.71%.

Alliancebernstein L.P. lessened its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 14.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,940,121 shares of the company's stock after selling 329,039 shares during the period. Alliancebernstein L.P. owned approximately 1.09% of Constellation Brands worth $356,051,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. UBS Group upped their price objective on Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Piper Sandler upped their price target on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Jefferies Financial Group lowered their target price on Constellation Brands from $205.00 to $179.00 and set a "buy" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. increased their price target on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Finally, Roth Capital reissued a "buy" rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $194.36.

Insider Buying and Selling at Constellation Brands

In other 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 completion of the sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $2.50 on Friday, reaching $148.38. 3,045,709 shares of the company were exchanged, compared to its average volume of 2,209,589. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The company's 50-day moving average is $167.18 and its two-hundred day moving average is $175.24. The firm has a market cap of $26.16 billion, a price-to-earnings ratio of -62.08, a P/E/G ratio of 0.45 and a beta of 0.67. Constellation Brands Inc has a 1-year low of $144.81 and a 1-year high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) 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 firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business posted $3.57 earnings per share. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, research analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.7%. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

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.