Price T Rowe Associates Inc. MD Sells 1,095,658 Shares of Constellation Brands Inc $STZ

Key Points

• Price T Rowe Associates Inc. has cut its stake in Constellation Brands Inc by 74.8%, now owning about 369,417 shares after selling over 1 million shares in the first quarter.
• Constellation Brands reported a disappointing quarterly earnings with $3.22 EPS, missing estimates by $0.23, and a revenue of $2.52 billion, down 5.5% compared to last year.
• The company has announced a quarterly dividend of $1.02 per share, providing a dividend yield of 2.6%, despite a negative payout ratio.

Price T Rowe Associates Inc. MD trimmed its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 74.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 369,417 shares of the company's stock after selling 1,095,658 shares during the period. Price T Rowe Associates Inc. MD owned about 0.21% of Constellation Brands worth $67,796,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its holdings in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Constellation Brands by 137.0% during the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after purchasing an additional 1,274 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Constellation Brands by 28.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock worth $1,351,000 after purchasing an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Constellation Brands by 7.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock worth $3,180,000 after purchasing an additional 1,185 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after purchasing an additional 65 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction that occurred 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 transaction, the executive vice president directly owned 9,438 shares in the company, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ stock traded up $2.73 on Friday, hitting $161.82. 1,773,426 shares of the stock were exchanged, compared to its average volume of 1,810,508. The firm's 50 day moving average is $168.33 and its two-hundred day moving average is $175.71. Constellation Brands Inc has a one year low of $156.17 and a one year high of $261.06. The firm has a market capitalization of $28.53 billion, a PE ratio of -67.71, a P/E/G ratio of 0.44 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS for the quarter, missing the consensus estimate of $3.45 by ($0.23). The business 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%. Constellation Brands's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the company earned $3.57 earnings per share. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. Sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Wednesday, July 30th were issued a $1.02 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.5%. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Wall Street Analyst Weigh In

A number of analysts recently commented on STZ shares. Citigroup reaffirmed a "negative" rating on shares of Constellation Brands in a research report on Monday. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and upped their price objective for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Piper Sandler raised their target price on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Wells Fargo & Company lowered their target price 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. Finally, Barclays set a $202.00 price target on shares of Constellation Brands and gave the company an "overweight" rating in a research report on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and an average target price of $212.35.

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.