Constellation Brands Inc $STZ Stock Position Trimmed by Tocqueville Asset Management L.P.

Key Points

• Tocqueville Asset Management L.P. has reduced its stake in Constellation Brands Inc by 70%, leaving it with 14,698 shares valued at approximately $2.7 million as of its latest SEC filing.
• Multiple institutional investors have increased their holdings in Constellation Brands, with 77.34% of the stock owned by such entities, indicating ongoing interest despite Tocqueville's divestment.
• Constellation Brands recently reported earnings per share of $3.22, missing estimates, with a revenue decline of 5.5% year-over-year, prompting analysts to adjust price targets and ratings, with an average target price now at $213.74.

Tocqueville Asset Management L.P. decreased its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 70.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,698 shares of the company's stock after selling 34,248 shares during the period. Tocqueville Asset Management L.P.'s holdings in Constellation Brands were worth $2,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STZ. Minot DeBlois Advisors LLC purchased a new stake in Constellation Brands during the 4th quarter worth $29,000. Optiver Holding B.V. purchased a new stake in Constellation Brands during the 4th quarter worth $31,000. Laurel Wealth Advisors LLC purchased a new stake in Constellation Brands during the 1st quarter worth $32,000. Rakuten Securities Inc. increased its stake in Constellation Brands by 805.0% during the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after buying an additional 161 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Constellation Brands during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on STZ shares. JPMorgan Chase & Co. lifted their price target on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Truist Financial raised shares of Constellation Brands from a "hold" rating to a "buy" rating and raised their price objective for the stock from $190.00 to $215.00 in a report on Wednesday, May 7th. UBS Group raised their price objective on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. 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. Finally, Roth Capital decreased their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Insiders Place Their Bets

In related 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 sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.45% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $1.4730 during midday trading on Thursday, hitting $164.8270. The company's stock had a trading volume of 1,559,673 shares, compared to its average volume of 2,386,624. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The firm's fifty day moving average price is $168.40 and its 200-day moving average price is $176.05. 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 market cap of $29.06 billion, a P/E ratio of -68.97, a P/E/G ratio of 10.04 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same period last year, the firm posted $3.57 earnings per share. The company's quarterly revenue was down 5.5% on a year-over-year basis. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. On average, sell-side analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Wednesday, July 30th were given a $1.02 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.5%. Constellation Brands's dividend payout ratio (DPR) is currently -170.71%.

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.