Corient Private Wealth LLC Reduces Holdings in Constellation Brands Inc $STZ

Key Points

• Corient Private Wealth LLC reduced its Constellation Brands stake by 21.4% in the fourth quarter, selling 7,577 shares and leaving it with 27,758 shares valued at about $3.83 million.
• Constellation Brands reported better-than-expected quarterly earnings of $1.90 per share on revenue of $1.92 billion, though revenue still declined 11.3% year over year.
• The company raised its quarterly dividend to $1.03 per share, while analysts remained generally constructive with an average rating of Moderate Buy and a consensus target price of $173.

Corient Private Wealth LLC cut its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 21.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,758 shares of the company's stock after selling 7,577 shares during the period. Corient Private Wealth LLC's holdings in Constellation Brands were worth $3,834,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Constellation Brands by 23.0% during the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after purchasing an additional 187 shares in the last quarter. Woodline Partners LP purchased a new stake in Constellation Brands in the 1st quarter worth approximately $2,409,000. Cary Street Partners Financial LLC boosted its holdings in Constellation Brands by 69.9% in 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 period. Bank of Nova Scotia boosted its stake in shares of Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company's stock worth $2,822,000 after acquiring an additional 599 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Constellation Brands by 5.0% in the 2nd quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company's stock worth $3,861,000 after purchasing an additional 1,127 shares during the period. Institutional investors own 77.34% of the company's stock.

Insider Activity

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president directly owned 9,109 shares of the company's stock, valued at $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research analyst reports. TD Cowen restated a "buy" rating and set a $174.00 price objective on shares of Constellation Brands in a research report on Friday. Morgan Stanley raised their target price on shares of Constellation Brands from $160.00 to $183.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Roth Mkm reaffirmed a "buy" rating on shares of Constellation Brands in a research report on Thursday, April 9th. Barclays raised their target price on shares of 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, Deutsche Bank Aktiengesellschaft lifted their price objective on Constellation Brands from $154.00 to $155.00 and gave the company a "hold" rating in a report on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $173.00.

Key Constellation Brands News

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

Constellation Brands Trading Up 1.3%

Shares of STZ stock opened at $146.37 on Friday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.08 and a quick ratio of 0.55. The stock has a 50 day simple moving average of $146.88 and a 200-day simple moving average of $150.29. The company has a market cap of $25.20 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 4.24 and a beta of 0.39. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $178.13.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the business earned $2.63 earnings per share. The company's revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities research analysts expect that Constellation Brands Inc will post 11.84 EPS for the current fiscal year.

Constellation Brands Increases Dividend

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

Constellation Brands Company Profile

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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