US Bancorp DE Sells 11,239 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• US Bancorp DE reduced its stake in Constellation Brands Inc by 16.0%, owning 59,189 shares valued at approximately $10.86 million following the sale of 11,239 shares.
• Major investors like Berkshire Hathaway and Capital World Investors have made significant moves, with Capital World increasing its holdings by 3.4% in the previous quarter.
• Analysts have mixed sentiments towards Constellation Brands, with upgrades from various firms leading to an average rating of "Moderate Buy" and a price target of $213.74.

US Bancorp DE lessened its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 16.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 59,189 shares of the company's stock after selling 11,239 shares during the period. US Bancorp DE's holdings in Constellation Brands were worth $10,862,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Capital World Investors boosted its holdings in Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock valued at $2,155,946,000 after purchasing an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc acquired a new position in shares of Constellation Brands in the fourth quarter worth about $1,242,976,000. Capital Research Global Investors raised its position in shares of Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after purchasing an additional 18,557 shares during the last quarter. FMR LLC raised its position in shares of Constellation Brands by 18.3% during the 4th quarter. FMR LLC now owns 1,641,087 shares of the company's stock worth $362,680,000 after purchasing an additional 253,740 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Constellation Brands by 21.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,617,641 shares of the company's stock worth $357,480,000 after purchasing an additional 284,302 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Performance

Shares of STZ stock traded down $1.21 during mid-day trading on Wednesday, hitting $169.44. 1,306,212 shares of the stock were exchanged, compared to its average volume of 1,854,233. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. Constellation Brands Inc has a 12-month low of $159.35 and a 12-month high of $261.06. The stock's fifty day simple moving average is $169.60 and its two-hundred day simple moving average is $177.06. The stock has a market capitalization of $29.87 billion, a price-to-earnings ratio of -70.89, a P/E/G ratio of 10.33 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 analysts' consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company's quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.57 earnings per share. On average, analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be given a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.4%. Constellation Brands's dividend payout ratio is presently -170.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on STZ. JPMorgan Chase & Co. upped their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Morgan Stanley cut their price target on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Friday, April 11th. Raymond James Financial upgraded shares of Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Royal Bank Of Canada reduced their price target on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research note on Thursday, June 5th. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $213.74.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $138,749.00. Following the transaction, the executive vice president directly 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 corporate insiders.

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.