Constellation Brands Inc (NYSE:STZ) Shares Sold by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 56.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,934 shares of the company’s stock after selling 31,284 shares during the period. Constellation Brands comprises approximately 3.8% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 8th biggest position. Savoir Faire Capital Management L.P.’s holdings in Constellation Brands were worth $4,392,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in Constellation Brands by 23.0% during the 4th 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 period. Bank Pictet & Cie Europe AG grew its stake in shares of Constellation Brands by 39.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company’s stock valued at $1,347,000 after buying an additional 1,733 shares during the period. Madison Investment Advisors LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $9,591,000. Thrivent Financial for Lutherans grew its stake in shares of Constellation Brands by 3.3% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,580 shares of the company’s stock valued at $1,697,000 after buying an additional 239 shares during the period. Finally, Generali Asset Management SPA SGR acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $946,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 owned 3,126 shares in the company, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.45% of the company’s stock.

Constellation Brands Stock Down 0.5%

Shares of NYSE:STZ traded down $0.80 during trading on Friday, reaching $170.72. 1,911,327 shares of the stock traded hands, compared to its average volume of 1,943,685. The stock has a 50-day moving average of $173.47 and a two-hundred day moving average of $179.83. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $261.06. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. The stock has a market cap of $30.10 billion, a P/E ratio of -71.43, a price-to-earnings-growth ratio of 10.38 and a beta of 0.67.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $3.57 EPS. As a group, sell-side analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands’s dividend payout ratio (DPR) is presently -170.71%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. BMO Capital Markets dropped their target price on shares of Constellation Brands from $260.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, April 11th. Wall Street Zen raised shares of Constellation Brands from a “sell” rating to a “hold” rating in a research report on Tuesday, May 20th. Jefferies Financial Group raised shares of Constellation Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $194.00 to $205.00 in a research report on Monday, July 7th. Truist Financial upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and raised their price target for the stock from $190.00 to $215.00 in a research note on Wednesday, May 7th. Finally, Needham & Company LLC raised their price target on shares of Constellation Brands from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.74.

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.