CORDA Investment Management LLC. Increases Holdings in Constellation Brands Inc $STZ

Key Points

• CORDA Investment Management increased its Constellation Brands stake by 12.6% in the first quarter, adding 15,694 shares and bringing its total holding to 140,050 shares worth about $21.0 million.
• Constellation Brands reported mixed quarterly results: EPS of $3.43 missed estimates, while revenue of $2.43 billion slightly beat expectations. Revenue still fell 3.3% year over year.
• The company announced a quarterly dividend of $1.03 per share, implying an annualized payout of $4.12 and a 3.1% yield. Analysts currently have a Hold consensus on the stock, with an average price target of $167.89.

CORDA Investment Management LLC. raised its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 12.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,050 shares of the company's stock after purchasing an additional 15,694 shares during the quarter. CORDA Investment Management LLC. owned about 0.08% of Constellation Brands worth $21,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Procyon Advisors LLC purchased a new stake in shares of Constellation Brands during the 1st quarter valued at about $312,000. Diversify Wealth Management LLC grew its position in Constellation Brands by 89.3% in the first quarter. Diversify Wealth Management LLC now owns 5,938 shares of the company's stock valued at $893,000 after acquiring an additional 2,802 shares in the last quarter. Midwest Trust Co raised its stake in shares of Constellation Brands by 8.9% during the first quarter. Midwest Trust Co now owns 1,611 shares of the company's stock valued at $242,000 after purchasing an additional 132 shares during the period. Fifth Third Bancorp lifted its position in shares of Constellation Brands by 251.6% during the first quarter. Fifth Third Bancorp now owns 35,503 shares of the company's stock worth $5,325,000 after purchasing an additional 25,406 shares in the last quarter. Finally, U S Global Investors Inc. acquired a new position in shares of Constellation Brands during the first quarter worth $150,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Trading Down 0.1%

NYSE:STZ opened at $133.87 on Monday. The company has a market cap of $22.86 billion, a PE ratio of 12.77, a P/E/G ratio of 4.18 and a beta of 0.39. The business's 50 day moving average is $142.33 and its two-hundred day moving average is $149.79. The company has a quick ratio of 0.48, a current ratio of 0.91 and a debt-to-equity ratio of 1.06. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.13.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.70 by ($0.27). The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.39 billion. Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The business's revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.22 earnings per share. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. On average, analysts predict that Constellation Brands Inc will post 11.82 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, July 30th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, July 30th. Constellation Brands's dividend payout ratio is currently 39.31%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group lowered their price target on shares of Constellation Brands from $186.00 to $175.00 and set a "buy" rating for the company in a report on Wednesday, June 17th. Bank of America lowered their target price on Constellation Brands from $152.00 to $145.00 and set an "underperform" rating for the company in a research note on Thursday, July 2nd. TD Cowen reiterated a "buy" rating and issued a $174.00 price target on shares of Constellation Brands in a research note on Wednesday, July 1st. Needham & Company LLC reissued a "buy" rating and issued a $185.00 price target on shares of Constellation Brands in a report on Thursday, July 2nd. Finally, Evercore set a $175.00 price objective on Constellation Brands and gave the stock an "outperform" rating in a report on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $167.89.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the sale, the executive vice president owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.20% of the stock is currently owned by company insiders.

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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