Royal Bank of Canada Sells 115,787 Shares of Constellation Brands Inc $STZ

Royal Bank of Canada lowered its stake in shares of Constellation Brands Inc (NYSE:STZ) by 17.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 539,057 shares of the company’s stock after selling 115,787 shares during the quarter. Royal Bank of Canada owned 0.31% of Constellation Brands worth $80,859,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. MV Capital Management Inc. bought a new position in Constellation Brands in the fourth quarter valued at $26,000. Stance Capital LLC bought a new stake in Constellation Brands during the third quarter worth about $26,000. Strive Financial Group LLC bought a new stake in Constellation Brands during the fourth quarter worth about $27,000. Cedar Mountain Advisors LLC purchased a new position in shares of Constellation Brands in the 1st quarter worth about $33,000. Finally, Root Financial Partners LLC increased its position in shares of Constellation Brands by 231.3% during the 1st quarter. Root Financial Partners LLC now owns 222 shares of the company’s stock valued at $33,000 after purchasing an additional 155 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Freedom Capital downgraded Constellation Brands from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Bank of America reduced their price target on shares of Constellation Brands from $152.00 to $145.00 and set an “underperform” rating on the stock in a research report on Thursday, July 2nd. Roth Capital reissued a “buy” rating and set a $209.00 price target on shares of Constellation Brands in a research note on Thursday, July 2nd. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Finally, Evercore set a $175.00 price objective on shares of Constellation Brands and gave the company an “outperform” rating in a research note on Friday, April 10th. Eleven analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $167.53.

Insider Activity

In other news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 12.20% of the company’s stock.

Constellation Brands Trading Down 0.1%

Shares of STZ opened at $130.30 on Friday. The firm’s 50-day moving average price is $137.64 and its 200-day moving average price is $148.75. The firm has a market capitalization of $22.25 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 4.06 and a beta of 1.75. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $174.32.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.70 by ($0.27). Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the company earned $3.22 earnings per share. Constellation Brands’s quarterly revenue was down 3.3% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Sell-side analysts anticipate that Constellation Brands Inc will post 11.84 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th will be issued a dividend of $1.03 per share. The ex-dividend date is Thursday, July 30th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 3.2%. Constellation Brands’s dividend payout ratio is 39.31%.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.