Davis R M Inc. Has $3.57 Million Stock Position in Constellation Brands Inc (NYSE:STZ)

Key Points

• Davis R M Inc. significantly reduced its stake in Constellation Brands by 73.2%, dropping to 19,430 shares after selling 53,021 shares in the first quarter, resulting in a current position valued at approximately $3.57 million.
• Constellation Brands reported earnings per share (EPS) of $3.22, missing expectations, with revenue of $2.52 billion, down 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02 per share, scheduled for August 14th, with a current yield of 2.38%.

Davis R M Inc. reduced its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 73.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,430 shares of the company's stock after selling 53,021 shares during the quarter. Davis R M Inc.'s holdings in Constellation Brands were worth $3,566,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of STZ. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth approximately $29,000. Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the 4th quarter worth approximately $31,000. Laurel Wealth Advisors LLC bought a new stake in Constellation Brands in the 1st quarter valued at $32,000. Rakuten Securities Inc. raised its stake in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in Constellation Brands in the 4th quarter valued at $44,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Constellation Brands stock opened at $171.61 on Thursday. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $30.25 billion, a PE ratio of -71.80, a P/E/G ratio of 10.64 and a beta of 0.67. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $261.06. The stock has a 50-day moving average price of $170.91 and a two-hundred day moving average price of $177.51.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. Constellation Brands's revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.57 earnings per share. Analysts expect that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.38%. Constellation Brands's payout ratio is currently -170.71%.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 12.45% of the company's stock.

Analyst Ratings Changes

STZ has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price target 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. Raymond James Financial raised Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. Wall Street Zen raised Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. Finally, Roth Capital reduced their target price on Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a report on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

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.

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