CORDA Investment Management LLC. Sells 8,836 Shares of Constellation Brands Inc $STZ

Key Points

• CORDA Investment Management trimmed its stake in Constellation Brands by 6.6%, selling 8,836 shares and now holding 124,356 shares (about 0.07% of the company) worth roughly $17.16 million.
• Constellation beat quarterly estimates (EPS $1.90 vs. $1.71; revenue $1.92B vs. $1.84B) despite revenue falling 11.3% year‑over‑year, and raised its quarterly dividend to $1.03 (annualized $4.12, ~2.7% yield).
• Analysts have lifted price targets and the stock has a consensus rating of "Moderate Buy" with an average price target of $176.30, amid mixed individual ratings from Strong Buy to Sell.

CORDA Investment Management LLC. trimmed its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 124,356 shares of the company's stock after selling 8,836 shares during the quarter. CORDA Investment Management LLC. owned about 0.07% of Constellation Brands worth $17,156,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in shares of Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after buying an additional 187 shares during the last quarter. Woodline Partners LP bought a new stake in shares of Constellation Brands during the 1st quarter worth $2,409,000. Cary Street Partners Financial LLC lifted its position in shares of Constellation Brands by 69.9% during the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company's stock worth $167,000 after buying an additional 422 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Constellation Brands by 3.6% during the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company's stock worth $2,822,000 after buying an additional 599 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Constellation Brands by 5.0% during the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company's stock worth $3,861,000 after buying an additional 1,127 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Bank of America upped their price objective on Constellation Brands from $142.00 to $154.00 and gave the stock an "underperform" rating in a research report on Friday, April 10th. Wells Fargo & Company upped their price objective on Constellation Brands from $180.00 to $185.00 and gave the stock an "overweight" rating in a research report on Friday, April 10th. Morgan Stanley upped their price objective on Constellation Brands from $160.00 to $183.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft upped their price objective on Constellation Brands from $154.00 to $155.00 and gave the stock a "hold" rating in a research report on Friday, April 10th. Finally, Piper Sandler increased their target price on Constellation Brands from $146.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has an average rating of "Moderate Buy" and a consensus price target of $176.30.

Constellation Brands Trading Down 1.4%

Shares of STZ stock opened at $150.23 on Friday. The stock has a market cap of $25.87 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 3.34 and a beta of 0.43. The stock has a 50-day moving average of $154.20 and a 200-day moving average of $147.99. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $196.91.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analysts' expectations of $1.84 billion. Constellation Brands had a return on equity of 26.18% and a net margin of 17.29%.The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.63 earnings per share. On average, equities research analysts forecast that Constellation Brands Inc will post 11.9 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Wednesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. Constellation Brands's payout ratio is currently 42.96%.

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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