Ethic Inc. Has $6.62 Million Holdings in Constellation Brands Inc (NYSE:STZ)

Key Points

• Ethic Inc. increased its stake in Constellation Brands by 16.8%, bringing its total holdings to approximately $6.62 million after acquiring an additional 5,151 shares in the first quarter.
• A significant percentage of Constellation Brands' stock, 77.34%, is currently owned by institutional investors and hedge funds, reflecting strong institutional interest in the company.
• Despite a recent quarterly earnings miss with reported EPS of $3.22 against a consensus estimate of $3.45, analysts continue to maintain a positive outlook with a consensus target price of around $213.74.

Ethic Inc. boosted its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 16.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,799 shares of the company's stock after buying an additional 5,151 shares during the quarter. Ethic Inc.'s holdings in Constellation Brands were worth $6,616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STZ. Minot DeBlois Advisors LLC acquired a new position in Constellation Brands in the 4th quarter valued at $29,000. Optiver Holding B.V. acquired a new position in Constellation Brands in the 4th quarter valued at $31,000. Laurel Wealth Advisors LLC acquired a new position in Constellation Brands in the 1st quarter valued at $32,000. Rakuten Securities Inc. grew 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 buying an additional 161 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Constellation Brands in the 1st quarter valued at $38,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Trading Down 0.7%

STZ opened at $168.26 on Friday. 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 stock has a market capitalization of $29.66 billion, a PE ratio of -70.40, a PEG ratio of 10.26 and a beta of 0.67. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The firm has a 50-day moving average price of $168.67 and a two-hundred day moving average price of $176.39.

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). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company's revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.57 EPS. As a group, equities analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were given a dividend of $1.02 per share. The ex-dividend date was Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.4%. Constellation Brands's payout ratio is currently -170.71%.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research reports. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Needham & Company LLC increased their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the company a "buy" rating in a report on Friday, June 27th. Cowen reissued a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Finally, Raymond James Financial raised shares of Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. 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 currently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

Constellation Brands Company 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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