Liberty Wealth Management LLC Takes Position in Constellation Brands Inc (NYSE:STZ)

Key Points

• Liberty Wealth Management LLC acquired a new stake in Constellation Brands Inc during the first quarter, purchasing 39,260 shares valued at approximately $7.2 million.
• Constellation Brands recently reported $3.22 earnings per share (EPS) for the last quarter, missing estimates by $0.23, and reported a 5.5% decrease in revenue year-over-year.
• The firm announced a quarterly dividend of $1.02 per share, set to be paid on August 14th, reflecting an annual yield of 2.5%.

Liberty Wealth Management LLC bought a new stake in Constellation Brands Inc (NYSE:STZ - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 39,260 shares of the company's stock, valued at approximately $7,205,000.

Other large investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Constellation Brands by 36.4% in the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after purchasing an additional 815 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Constellation Brands by 137.0% during the first quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after acquiring an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Constellation Brands by 28.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after acquiring an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Constellation Brands by 7.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock valued at $3,180,000 after acquiring an additional 1,185 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in shares of Constellation Brands by 3.0% during the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 77.34% of the company's stock.

Insider Activity

In related news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is owned by insiders.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $166.25 on Friday. The stock has a market cap of $29.31 billion, a PE ratio of -69.56, a price-to-earnings-growth ratio of 10.06 and a beta of 0.67. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week 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 stock has a fifty day moving average of $170.18 and a 200-day moving average of $177.25.

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

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is presently -170.71%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Raymond James Financial raised Constellation Brands to a "strong-buy" rating in a research report on Monday, July 7th. Truist Financial raised Constellation Brands from a "hold" rating to a "buy" rating and increased their price target for the company from $190.00 to $215.00 in a research report on Wednesday, May 7th. CJS Securities decreased their price target on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. The Goldman Sachs Group set a $225.00 price target on Constellation Brands and gave the company a "buy" rating in a research report on Friday, June 27th. Finally, Roth Capital decreased their price target on Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Eleven investment 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's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Constellation Brands Company 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.

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