Constellation Brands Inc (NYSE:STZ) Shares Sold by First National Advisers LLC

Key Points

• First National Advisers LLC significantly reduced its stake in Constellation Brands Inc by 87.6%, now holding only 1,586 shares worth approximately $291,000.
• Constellation Brands reported earnings per share of $3.22 for the latest quarter, missing estimates of $3.45, and experienced a 5.5% year-over-year decline in revenue.
• The company announced a quarterly dividend of $1.02 per share, reflecting a 2.32% yield based on the current price.

First National Advisers LLC cut its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 87.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586 shares of the company's stock after selling 11,202 shares during the period. First National Advisers LLC's holdings in Constellation Brands were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Brighton Jones LLC lifted its holdings in Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock valued at $221,000 after acquiring an additional 187 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Constellation Brands by 39.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after purchasing an additional 1,733 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Constellation Brands by 3.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 7,580 shares of the company's stock worth $1,697,000 after acquiring an additional 239 shares during the period. UniSuper Management Pty Ltd increased its position in shares of Constellation Brands by 25.6% during the fourth quarter. UniSuper Management Pty Ltd now owns 14,029 shares of the company's stock worth $3,100,000 after acquiring an additional 2,859 shares during the period. Finally, NEOS Investment Management LLC increased its position in shares of Constellation Brands by 25.6% during the fourth quarter. NEOS Investment Management LLC now owns 6,074 shares of the company's stock worth $1,342,000 after acquiring an additional 1,238 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of STZ stock traded down $3.41 during midday trading on Thursday, reaching $168.05. 1,061,821 shares of the company traded hands, compared to its average volume of 2,464,866. The firm's 50 day simple moving average is $170.91 and its two-hundred day simple moving average is $177.51. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The firm has a market cap of $29.63 billion, a PE ratio of -70.31, a price-to-earnings-growth ratio of 10.64 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results 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). Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $3.57 earnings per share. Constellation Brands's revenue was down 5.5% on a year-over-year basis. On average, equities research analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.43%. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STZ. Piper Sandler upped their price objective on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research report on Friday, June 6th. DA Davidson dropped their target price on Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Barclays set a $202.00 target price on Constellation Brands and gave the company an "overweight" rating in a report on Thursday, June 26th. Wells Fargo & Company dropped their target price on Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a report on Wednesday, June 25th. Finally, Roth Capital dropped their price objective 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 equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $213.74.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction 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 transaction, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by insiders.

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.