WealthBridge Investment Counsel Inc. Trims Stake in Constellation Brands Inc $STZ

Key Points

• WealthBridge Investment Counsel Inc. reduced its stake in Constellation Brands Inc by selling 2,700 shares, resulting in a total of 23,045 shares valued at approximately $3,749,000.
• Constellation Brands reported quarterly earnings of $3.22 EPS, missing analyst expectations of $3.45, and its revenue decreased by 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02 per share, representing an annualized yield of 3.1%, despite having a dividend payout ratio of -170.71%.

WealthBridge Investment Counsel Inc. reduced its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,045 shares of the company's stock after selling 2,700 shares during the quarter. WealthBridge Investment Counsel Inc.'s holdings in Constellation Brands were worth $3,749,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wesbanco Bank Inc. raised its position in shares of Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company's stock valued at $7,049,000 after buying an additional 4,204 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after purchasing an additional 815 shares during the period. Glenview Trust co increased its stake in Constellation Brands by 6.8% during the 1st quarter. Glenview Trust co now owns 69,427 shares of the company's stock worth $12,741,000 after buying an additional 4,421 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Constellation Brands by 1.5% during the 2nd quarter. Confluence Investment Management LLC now owns 143,508 shares of the company's stock worth $23,346,000 after acquiring an additional 2,135 shares during the period. Finally, Invst LLC acquired a new position in Constellation Brands in the 1st quarter valued at about $1,366,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.1%

NYSE STZ traded down $0.11 during trading hours on Friday, reaching $132.91. The company had a trading volume of 6,143,252 shares, compared to its average volume of 3,086,946. The stock has a market capitalization of $23.43 billion, a P/E ratio of -55.61, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. Constellation Brands Inc has a 1-year low of $131.82 and a 1-year high of $261.06. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a 50-day moving average of $160.84 and a 200 day moving average of $172.66.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its 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). The company 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%.Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.57 earnings per share. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Wednesday, July 30th. Constellation Brands's payout ratio is currently -170.71%.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on STZ shares. Raymond James Financial raised Constellation Brands to a "strong-buy" rating in a report on Monday, July 7th. UBS Group lifted their price target on Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Bank of America cut their price target on Constellation Brands from $150.00 to $142.00 and set an "underperform" rating for the company in a report on Wednesday, September 3rd. Morgan Stanley cut their price target on Constellation Brands from $195.00 to $176.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 3rd. Finally, Cowen restated a "hold" rating on shares of Constellation Brands in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $192.28.

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.