Kestra Private Wealth Services LLC Trims Position in Constellation Brands Inc $STZ

Key Points

• Kestra Private Wealth Services LLC cut its stake in Constellation Brands by 36.0%, selling 6,612 shares and finishing the quarter with 11,742 shares valued at about $1.62 million.
• Constellation beat quarterly estimates with EPS of $1.90 versus $1.71 expected and revenue of $1.92 billion versus $1.84 billion expected, although revenue was down 11.3% year‑over‑year.
• The company raised its quarterly dividend to $1.03 (annualized $4.12, ~2.7% yield), and analysts maintain a consensus Moderate Buy with a target price around $178.14.

Kestra Private Wealth Services LLC decreased its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 36.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,742 shares of the company's stock after selling 6,612 shares during the quarter. Kestra Private Wealth Services LLC's holdings in Constellation Brands were worth $1,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its position in shares of Constellation Brands by 0.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 64,032 shares of the company's stock worth $8,834,000 after acquiring an additional 412 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in shares of Constellation Brands by 129.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 28,065 shares of the company's stock worth $3,871,000 after acquiring an additional 15,840 shares during the last quarter. Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Constellation Brands during the fourth quarter worth $39,000. M&T Bank Corp boosted its position in shares of Constellation Brands by 63.1% during the fourth quarter. M&T Bank Corp now owns 29,120 shares of the company's stock worth $4,017,000 after acquiring an additional 11,269 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of Constellation Brands by 18.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 87,856 shares of the company's stock worth $12,290,000 after acquiring an additional 13,814 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $152.88 on Friday. The company has a market cap of $26.33 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 3.43 and a beta of 0.43. The firm's fifty day moving average is $154.67 and its 200 day moving average is $147.66. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. Constellation Brands Inc has a 52-week low of $126.45 and a 52-week high of $196.91.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. Constellation Brands's revenue was down 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.63 earnings per share. Sell-side analysts forecast that Constellation Brands Inc will post 11.9 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Wednesday, April 29th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 2.7%. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is presently 42.96%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on STZ shares. UBS Group upped their target price on shares of Constellation Brands from $176.00 to $186.00 and gave the stock a "buy" rating in a research report on Friday, April 10th. Piper Sandler upped their target price on shares of Constellation Brands from $146.00 to $160.00 and gave the stock a "neutral" rating in a research report on Friday, April 10th. Sanford C. Bernstein upped their target price on shares of Constellation Brands from $195.00 to $197.00 and gave the stock an "outperform" rating in a research report on Friday, January 9th. Barclays upped their price target on shares of Constellation Brands from $151.00 to $170.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Finally, Morgan Stanley upped their price target on shares of Constellation Brands from $160.00 to $183.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.14.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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