Rafferty Asset Management LLC Trims Stake in Constellation Brands Inc $STZ

Key Points

• Rafferty Asset Management LLC reduced its holdings in Constellation Brands Inc by 20.9% in the first quarter, selling 2,828 shares to own a total of 10,717 shares worth approximately $1.97 million.
• A number of hedge funds recently changed their positions in Constellation Brands, with Rakuten Securities Inc. growing its holdings by 805% during the first quarter.
• Constellation Brands reported $3.22 EPS for the most recent quarter, missing analysts' expectations, with revenue down 5.5% year-over-year at $2.52 billion.

Rafferty Asset Management LLC decreased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 20.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,717 shares of the company's stock after selling 2,828 shares during the quarter. Rafferty Asset Management LLC's holdings in Constellation Brands were worth $1,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Ally Financial Inc. raised its stake in shares of Constellation Brands by 25.0% during the 1st quarter. Ally Financial Inc. now owns 5,000 shares of the company's stock valued at $918,000 after purchasing an additional 1,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Constellation Brands by 12.8% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,170 shares of the company's stock valued at $2,968,000 after buying an additional 1,829 shares during the period. Quantitative Investment Management LLC purchased a new stake in shares of Constellation Brands in the first quarter worth about $11,975,000. Cadence Bank boosted its position in shares of Constellation Brands by 0.5% in the first quarter. Cadence Bank now owns 37,212 shares of the company's stock valued at $6,829,000 after acquiring an additional 182 shares during the period. Finally, Allstate Corp grew its stake in Constellation Brands by 81.1% during the first quarter. Allstate Corp now owns 9,026 shares of the company's stock valued at $1,656,000 after acquiring an additional 4,041 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on STZ shares. Cowen reissued a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Constellation Brands from $182.00 to $158.00 and set a "hold" rating for the company in a research note on Wednesday. Truist Financial upgraded Constellation Brands from a "hold" rating to a "buy" rating and boosted their target price for the stock from $190.00 to $215.00 in a research report on Wednesday, May 7th. The Goldman Sachs Group dropped their price target on Constellation Brands from $225.00 to $196.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, 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 research report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.36.

Constellation Brands Trading Down 0.5%

Shares of STZ traded down $0.75 during trading hours on Thursday, hitting $145.74. The company had a trading volume of 1,689,381 shares, compared to its average volume of 2,418,957. Constellation Brands Inc has a 52-week low of $144.81 and a 52-week high of $261.06. 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's 50 day moving average price is $167.74 and its 200 day moving average price is $175.50. The firm has a market cap of $25.69 billion, a P/E ratio of -60.98, a P/E/G ratio of 0.44 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion for 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 business's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.57 earnings per share. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. On average, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently declared 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 was Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.8%. Constellation Brands's dividend payout ratio is presently -170.71%.

Insider Transactions at Constellation Brands

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

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.