Natixis Advisors LLC Sells 18,836 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• Natixis Advisors LLC has decreased its stake in Constellation Brands by 18.4%, selling 18,836 shares during the first quarter, with remaining holdings valued at approximately $15.3 million.
• Constellation Brands reported earnings of $3.22 per share for the last quarter, missing expectations by $0.23, while revenue fell 5.5% year-over-year to $2.52 billion.
• The company recently declared a quarterly dividend of $1.02 per share, resulting in an annualized dividend yield of 2.5%, with a dividend payout ratio currently at -170.71%.

Natixis Advisors LLC cut its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,354 shares of the company's stock after selling 18,836 shares during the period. Natixis Advisors LLC's holdings in Constellation Brands were worth $15,297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Minot DeBlois Advisors LLC acquired a new position in Constellation Brands during the 4th quarter worth $29,000. Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the fourth quarter valued at about $31,000. Laurel Wealth Advisors LLC acquired a new stake in Constellation Brands in the first quarter worth about $32,000. Rakuten Securities Inc. grew its position in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after buying an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Constellation Brands during the 4th quarter valued at about $44,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the sale, the executive vice president directly 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. Insiders own 12.45% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ stock traded down $1.21 during trading on Wednesday, reaching $169.44. 1,306,212 shares of the company's stock were exchanged, compared to its average volume of 2,444,180. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The firm's fifty day moving average price is $169.60 and its 200-day moving average price is $177.06. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $29.87 billion, a PE ratio of -70.89, a PEG ratio of 10.31 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last released 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). The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.57 earnings per share. As a group, sell-side analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. DA Davidson lowered their price target on Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. Bank of America upped their price objective on Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a report on Thursday, June 5th. Finally, Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and upped their price target for the company from $190.00 to $215.00 in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $213.74.

About Constellation Brands

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.