Constellation Brands Inc (NYSE:STZ) Shares Sold by Virtu Financial LLC

Key Points

• Virtu Financial LLC significantly reduced its holdings in Constellation Brands, revealing an 88.2% drop in shares owned during the first quarter, now totaling just 3,133 shares valued at approximately $575,000.
• Other institutional investors, such as Berkshire Hathaway and Vanguard Group, have made substantial investments in Constellation Brands, indicating a strong interest from hedge funds, which collectively own 77.34% of the stock.
• Constellation Brands recently reported earnings per share of $3.22 for the quarter, falling short of analysts' estimates, and announced a quarterly dividend of $1.02, resulting in an annualized yield of 2.4%.

Virtu Financial LLC reduced its position in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 88.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,133 shares of the company's stock after selling 23,487 shares during the period. Virtu Financial LLC's holdings in Constellation Brands were worth $575,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Brighton Jones LLC boosted 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 acquiring an additional 187 shares during the last quarter. Bank Pictet & Cie Europe AG boosted 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 acquiring an additional 1,733 shares during the last quarter. Mariner LLC boosted 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 acquiring an additional 405 shares during the last quarter. CreativeOne Wealth LLC boosted 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 acquiring an additional 443 shares during the last quarter. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of Constellation Brands in the fourth quarter worth approximately $566,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president 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 legal filing with the SEC, which can be accessed through the SEC website. 12.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

STZ has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their price target on shares of Constellation Brands from $170.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Roth Capital reduced their price target on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. Finally, The Goldman Sachs Group set a $225.00 price target on shares of Constellation Brands and gave the company a "buy" rating in a research report on Friday, June 27th. Eleven 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 data from MarketBeat.com, Constellation Brands presently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Stock Performance

STZ stock traded down $1.25 during trading on Friday, hitting $168.26. 1,521,061 shares of the company's stock traded hands, compared to its average volume of 1,584,290. 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. The stock has a fifty day moving average price of $168.67 and a two-hundred day moving average price of $176.39. The stock has a market capitalization of $29.66 billion, a price-to-earnings ratio of -70.40, a price-to-earnings-growth ratio of 10.26 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share 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 for the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter in the previous year, the firm earned $3.57 EPS. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

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

About Constellation Brands

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.