AssuredPartners Investment Advisors LLC Decreases Holdings in Constellation Brands Inc (NYSE:STZ)

AssuredPartners Investment Advisors LLC cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 26.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,574 shares of the company’s stock after selling 574 shares during the period. AssuredPartners Investment Advisors LLC’s holdings in Constellation Brands were worth $289,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in STZ. Mainstream Capital Management LLC purchased a new stake in Constellation Brands during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Constellation Brands in the 4th quarter worth $26,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Constellation Brands in the 4th quarter worth $28,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Constellation Brands in the 4th quarter worth $29,000. Finally, Optiver Holding B.V. purchased a new stake in shares of Constellation Brands in the 4th quarter worth $31,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 0.7%

Shares of NYSE:STZ opened at $164.38 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.56 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a 12 month low of $159.35 and a 12 month high of $265.69. The company has a 50-day moving average price of $180.28 and a 200 day moving average price of $187.27. The company has a market cap of $29.26 billion, a price-to-earnings ratio of -322.32, a PEG ratio of 9.01 and a beta of 0.70.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.35. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the firm earned $2.26 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a $1.02 dividend. This is an increase from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.48%. Constellation Brands’s dividend payout ratio (DPR) is presently -800.00%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STZ. Royal Bank Of Canada reduced their price objective on Constellation Brands from $289.00 to $233.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. BMO Capital Markets reduced their price objective on Constellation Brands from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, April 11th. DA Davidson dropped their target price on shares of Constellation Brands from $272.00 to $241.00 in a report on Friday, April 11th. Bank of America cut their price target on Constellation Brands from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Wednesday, June 18th. Finally, Piper Sandler increased their price target on Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, June 6th. Eleven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $215.87.

Insider Activity at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the sale, the executive vice president now owns 3,126 shares of the company’s stock, valued at $589,376.04. This trade represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.45% of the stock is owned by insiders.

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.