Cresset Asset Management LLC Acquires 46,239 Shares of Constellation Brands Inc $STZ

Key Points

• Cresset Asset Management LLC increased its stock position in Constellation Brands Inc by 846.6%, owning a total of 51,701 shares worth $9.49 million as of the last quarter.
• Constellation Brands reported quarterly earnings of $3.22 EPS, missing the consensus estimate by $0.23, with a revenue of $2.52 billion, down 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02, representing a 2.4% dividend yield, but has a negative payout ratio of -170.71%.

Cresset Asset Management LLC increased its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 846.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 51,701 shares of the company's stock after buying an additional 46,239 shares during the quarter. Cresset Asset Management LLC's holdings in Constellation Brands were worth $9,488,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in STZ. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands during the fourth quarter valued at approximately $29,000. Optiver Holding B.V. acquired a new stake in Constellation Brands during the fourth quarter valued at approximately $31,000. Laurel Wealth Advisors LLC acquired a new stake in Constellation Brands during the first quarter valued at approximately $32,000. Rakuten Securities Inc. boosted its holdings in Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after purchasing an additional 161 shares in the last quarter. Finally, Zions Bancorporation National Association UT acquired a new stake in Constellation Brands during the first quarter valued at approximately $38,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on STZ. Piper Sandler lifted their price objective on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a report on Friday, June 6th. Jefferies Financial Group raised Constellation Brands from a "hold" rating to a "buy" rating and lifted their price objective for the company from $194.00 to $205.00 in a report on Monday, July 7th. Raymond James Financial upgraded shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Citigroup lifted their target price on shares of Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Finally, The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the company a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $213.74.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of the business's 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 owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 12.45% of the stock is owned by company insiders.

Constellation Brands Trading Down 0.9%

STZ stock traded down $1.4730 during trading on Thursday, hitting $164.8270. The company had a trading volume of 1,559,673 shares, compared to its average volume of 2,386,624. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The firm has a 50-day moving average price of $168.40 and a 200-day moving average price of $176.05. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06. The stock has a market cap of $29.06 billion, a price-to-earnings ratio of -68.97, a PEG ratio of 10.04 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the firm earned $3.57 EPS. The business's revenue for the quarter was down 5.5% on a year-over-year basis. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Announces Dividend

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