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TIAA Trust National Association Boosts Position in Constellation Brands Inc (NYSE:STZ)

Constellation Brands logo with Consumer Staples background

Key Points

  • TIAA Trust National Association significantly increased its stake in Constellation Brands, boosting holdings by 3,509.4% to a total of 92,943 shares worth approximately $17,057,000.
  • In the most recent quarter, Constellation Brands missed earnings expectations with $3.22 earnings per share (EPS), falling short of the consensus estimate of $3.45.
  • The company announced a quarterly dividend of $1.02 per share, representing an annualized payout of $4.08 and a dividend yield of 2.5%.
  • Five stocks we like better than Constellation Brands.

TIAA Trust National Association boosted its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 3,509.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 92,943 shares of the company's stock after buying an additional 90,368 shares during the period. TIAA Trust National Association owned approximately 0.05% of Constellation Brands worth $17,057,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of STZ. Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $29,000. Optiver Holding B.V. acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $31,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $32,000. Rakuten Securities Inc. grew its position in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Constellation Brands during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. The trade was a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $138,749.00. Following the sale, the executive vice president owned 9,438 shares in the company, valued at approximately $1,595,022. This represents a 8.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $166.25 on Friday. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. The company has a market cap of $29.31 billion, a price-to-earnings ratio of -69.56, a price-to-earnings-growth ratio of 10.06 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The firm has a fifty day moving average of $170.18 and a 200-day moving average of $177.25.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

Analyst Ratings Changes

STZ has been the subject of a number of recent analyst reports. Cowen reissued a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Morgan Stanley decreased their price target on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. 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 report on Thursday, July 3rd. The Goldman Sachs Group set a $225.00 price objective on shares of Constellation Brands and gave the stock a "buy" rating in a report on Friday, June 27th. Finally, Bank of America lifted their price objective on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Eleven equities research 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 stock. According to data from MarketBeat, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Check Out Our Latest Research Report on STZ

About Constellation Brands

(Free Report)

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.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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