Constellation Brands Inc (NYSE:STZ) Shares Sold by Mizuho Securities USA LLC

Key Points

• Mizuho Securities USA LLC has reduced its position in Constellation Brands Inc by 15.9%, holding 12,443 shares valued at approximately $2.28 million.
• Constellation Brands is set to pay a quarterly dividend of $1.02 on August 14th, with an annualized yield of 2.4%.
• The company reported earnings of $3.22 per share for the quarter, missing estimates by $0.23, while also experiencing a 5.5% decline in revenue year-over-year.

Mizuho Securities USA LLC lessened its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 15.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,443 shares of the company's stock after selling 2,354 shares during the quarter. Mizuho Securities USA LLC's holdings in Constellation Brands were worth $2,284,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth about $29,000. Optiver Holding B.V. bought a new stake in shares of Constellation Brands in the 4th quarter worth about $31,000. Laurel Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the 1st quarter worth about $32,000. Rakuten Securities Inc. lifted its holdings in shares of Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Constellation Brands in the 1st quarter worth about $38,000. Institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on STZ shares. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their target price for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. Needham & Company LLC raised their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Raymond James Financial raised shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the stock a "buy" rating in a research note on Friday, June 27th. Finally, Roth Capital reduced their price target on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research note 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Insiders Place Their Bets

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares of the company's stock, valued at approximately $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.45% of the company's stock.

Constellation Brands Stock Up 0.2%

Shares of Constellation Brands stock traded up $0.37 on Wednesday, reaching $170.35. The stock had a trading volume of 1,429,446 shares, compared to its average volume of 1,653,920. The company has a 50 day moving average price of $168.76 and a 200 day moving average price of $176.62. 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 1 year low of $159.35 and a 1 year high of $261.06. The stock has a market capitalization of $30.03 billion, a P/E ratio of -71.28, a P/E/G ratio of 10.29 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data 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 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 period in the previous year, the firm earned $3.57 EPS. The firm's quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders 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 2.4%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

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.