Prudential PLC Sells 4,989 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• Prudential PLC has reduced its holdings in Constellation Brands Inc by 6.7%, now owning 69,882 shares valued at approximately $12.8 million.
• Constellation Brands reported a missed EPS of $3.22 compared to the consensus estimate of $3.45, with a year-over-year revenue decline of 5.5%.
• The company recently declared a quarterly dividend of $1.02, resulting in an annualized yield of 2.4%, amid a payout ratio of -170.71%.

Prudential PLC lessened its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 6.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 69,882 shares of the company's stock after selling 4,989 shares during the period. Prudential PLC's holdings in Constellation Brands were worth $12,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STZ. Brighton Jones LLC raised its position in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after buying an additional 187 shares in the last quarter. Bank Pictet & Cie Europe AG raised its position in shares of Constellation Brands by 39.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock worth $1,347,000 after buying an additional 1,733 shares in the last quarter. Mariner LLC raised its position in shares of Constellation Brands by 1.2% in the fourth quarter. Mariner LLC now owns 34,833 shares of the company's stock worth $7,698,000 after buying an additional 405 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Constellation Brands by 20.2% in the fourth quarter. CreativeOne Wealth LLC now owns 2,635 shares of the company's stock worth $582,000 after buying an additional 443 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new stake in shares of Constellation Brands in the fourth quarter worth $566,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.7%

Shares of STZ traded down $1.25 during trading hours on Friday, hitting $168.26. The company had a trading volume of 1,521,061 shares, compared to its average volume of 1,584,290. The firm has a market cap of $29.66 billion, a P/E ratio of -70.40, a P/E/G ratio of 10.26 and a beta of 0.67. The stock's 50 day moving average price is $168.67 and its 200 day moving average price is $176.39. 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 52-week low of $159.35 and a 52-week high of $261.06.

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 analysts' expectations of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The firm's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.57 EPS. On average, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on STZ shares. CJS Securities lowered their price objective on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. JPMorgan Chase & Co. raised their price target on Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Bank of America raised their price target on Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. 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, Cowen restated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Eleven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Insider Activity

In related news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.45% of the stock is 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.