Formidable Asset Management LLC Invests $338,000 in Constellation Brands Inc (NYSE:STZ)

Formidable Asset Management LLC purchased a new stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,842 shares of the company's stock, valued at approximately $338,000.

A number of other institutional investors have also recently made changes to their positions in STZ. FLC Capital Advisors boosted its holdings in Constellation Brands by 16.7% in the first quarter. FLC Capital Advisors now owns 4,129 shares of the company's stock worth $758,000 after purchasing an additional 591 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth $456,000. Legacy Capital Wealth Partners LLC boosted its stake in shares of Constellation Brands by 42.7% during the 1st quarter. Legacy Capital Wealth Partners LLC now owns 1,437 shares of the company's stock worth $264,000 after acquiring an additional 430 shares during the last quarter. Shayne & Jacobs LLC purchased a new position in shares of Constellation Brands during the 1st quarter worth $317,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Constellation Brands by 3.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 62,874 shares of the company's stock worth $11,539,000 after acquiring an additional 2,385 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

STZ stock traded down $2.61 on Monday, hitting $167.96. The company's stock had a trading volume of 2,233,593 shares, compared to its average volume of 1,949,501. The firm has a 50 day moving average of $173.47 and a two-hundred day moving average of $179.24. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. The stock has a market cap of $29.61 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 10.32 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its 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). 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 for the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter last year, the business posted $3.57 earnings per share. The business's revenue was down 5.5% compared to the same quarter last year. Equities analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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

Insider Activity

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated 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 sale, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on STZ. CJS Securities reduced their price target on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. Raymond James Financial upgraded shares of Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. Citigroup lifted their price target on shares of Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. DA Davidson reduced their price target on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Finally, Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.