Constellation Brands Inc (NYSE:STZ) Shares Sold by First National Trust Co

Key Points

• First National Trust Co significantly reduced its stake in Constellation Brands Inc by 54.6%, now holding 4,494 shares valued at $825,000.
• Constellation Brands reported earnings of $3.22 per share, missing analysts’ expectations by $0.23, with revenues down 5.5% compared to the same period last year.
• The company has declared a quarterly dividend of $1.02, set to be paid on August 14th, representing an annualized yield of 2.38% despite a negative payout ratio of -170.71%.

First National Trust Co lessened its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 54.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,494 shares of the company's stock after selling 5,394 shares during the quarter. First National Trust Co's holdings in Constellation Brands were worth $825,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Piscataqua Savings Bank boosted its holdings in Constellation Brands by 1.7% in the 1st quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after purchasing an additional 62 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in Constellation Brands by 5.8% in the 1st quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock valued at $207,000 after purchasing an additional 62 shares in the last quarter. World Investment Advisors boosted its holdings in Constellation Brands by 1.7% in the 1st quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after purchasing an additional 62 shares in the last quarter. Moody National Bank Trust Division boosted its holdings in Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after purchasing an additional 64 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after purchasing an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of Constellation Brands stock traded down $0.79 during trading on Friday, hitting $166.25. 1,631,018 shares of the company were exchanged, compared to its average volume of 1,857,188. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $261.06. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of -69.56, a P/E/G ratio of 10.11 and a beta of 0.67. The firm has a 50 day moving average price of $170.18 and a 200 day moving average price of $177.27.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results 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 business 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.57 earnings per share. On average, equities 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 declared 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 is Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.5%. Constellation Brands's payout ratio is -170.71%.

Wall Street Analysts Forecast Growth

STZ has been the topic of several research analyst reports. Piper Sandler boosted their price target on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Needham & Company LLC boosted their price target on Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Truist Financial raised Constellation Brands from a "hold" rating to a "buy" rating and boosted their price target for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. JPMorgan Chase & Co. boosted their price target on Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $213.74.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This trade represents 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.

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.