National Pension Service Acquires 31,589 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• The National Pension Service increased its stake in Constellation Brands by 12.5% during the first quarter, holding a total of 283,622 shares valued at approximately $52 million.
• Constellation Brands reported a missed earnings estimate for the last quarter, with EPS of $3.22 compared to the expected $3.45, and a revenue decline of 5.5% year-over-year.
• The company declared a quarterly dividend of $1.02, resulting in an annual dividend yield of 2.4%, but has a negative dividend payout ratio of -170.71%.

National Pension Service increased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 12.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 283,622 shares of the company's stock after purchasing an additional 31,589 shares during the period. National Pension Service owned approximately 0.16% of Constellation Brands worth $52,050,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. raised its holdings in Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock valued at $560,000 after buying an additional 815 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Constellation Brands by 137.0% during the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after buying an additional 1,274 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Constellation Brands by 28.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after buying an additional 1,651 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Constellation Brands by 7.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,206 shares of the company's stock valued at $3,180,000 after buying an additional 1,185 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in Constellation Brands by 3.0% during the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Down 0.7%

STZ stock traded down $1.25 during trading on Friday, hitting $168.26. 1,521,061 shares of the stock traded hands, compared to its average volume of 1,584,290. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. The firm's 50 day moving average is $168.67 and its two-hundred day moving average is $176.35. The stock has a market cap of $29.66 billion, a price-to-earnings ratio of -70.40, a price-to-earnings-growth ratio of 10.18 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 EPS 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 firm had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.57 billion. During the same period last year, the company posted $3.57 earnings per share. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Ratings Changes

STZ has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Citigroup upped their price objective on shares of Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. upped their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Wall Street Zen upgraded shares of Constellation Brands from a "sell" rating to a "hold" rating in a report on Tuesday, May 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a report on Thursday, June 5th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction dated 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 $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.45% of the stock is currently owned by insiders.

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.