Constellation Brands Inc $STZ Shares Sold by First Long Island Investors LLC

Key Points

• First Long Island Investors LLC reduced its stake in Constellation Brands Inc by 47.8%, selling 46,472 shares, and now holds 50,815 shares valued at approximately $9.3 million.
• Constellation Brands recently reported disappointing quarterly earnings, with a miss on earnings per share (EPS) at $3.22, falling short of the $3.45 analysts expected.
• The company declared a quarterly dividend of $1.02 per share, representing an annualized dividend yield of 2.9%, despite having a negative dividend payout ratio of -170.71%.

First Long Island Investors LLC lowered its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 47.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,815 shares of the company's stock after selling 46,472 shares during the period. First Long Island Investors LLC's holdings in Constellation Brands were worth $9,326,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new position in Constellation Brands in the first quarter valued at about $32,000. Rakuten Securities Inc. boosted its holdings in Constellation Brands by 805.0% in 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 during the last quarter. Zions Bancorporation National Association UT purchased a new position in Constellation Brands in the first quarter valued at about $38,000. Flaharty Asset Management LLC purchased a new position in Constellation Brands in the first quarter valued at about $39,000. Finally, WPG Advisers LLC purchased a new position in Constellation Brands in the first quarter valued at about $43,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of the firm's 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 sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

STZ has been the topic of a number of research analyst reports. Citigroup reduced their target price on Constellation Brands from $174.00 to $155.00 and set a "neutral" rating on the stock in a report on Thursday, September 4th. Needham & Company LLC reduced their target price on Constellation Brands from $200.00 to $180.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Morgan Stanley reduced their target price on Constellation Brands from $195.00 to $176.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. Piper Sandler increased their target price on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Finally, BNP Paribas Exane downgraded Constellation Brands from a "neutral" rating to an "underperform" rating and set a $123.00 target price on the stock. in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $192.28.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded down $3.46 on Friday, reaching $139.52. 2,445,127 shares of the company were exchanged, compared to its average volume of 2,625,656. Constellation Brands Inc has a 1-year low of $139.45 and a 1-year high of $261.06. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a market cap of $24.60 billion, a price-to-earnings ratio of -58.38, a P/E/G ratio of 0.42 and a beta of 1.75. The company's 50-day moving average is $164.56 and its two-hundred day moving average is $174.11.

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

Constellation Brands Dividend Announcement

The firm also recently announced 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 2.9%. The ex-dividend date was Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

About Constellation Brands

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.