DoubleLine ETF Adviser LP Sells 1,680 Shares of Constellation Brands Inc $STZ

DoubleLine ETF Adviser LP cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 18.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,198 shares of the company’s stock after selling 1,680 shares during the period. DoubleLine ETF Adviser LP’s holdings in Constellation Brands were worth $1,321,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STZ. Vanguard Group Inc. grew its position in Constellation Brands by 18.6% during the 1st quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after acquiring an additional 2,882,817 shares during the last quarter. Wellington Management Group LLP raised its position in Constellation Brands by 127.9% in the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock valued at $822,314,000 after purchasing an additional 2,514,517 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Constellation Brands by 7,602.6% during the first quarter. GAMMA Investing LLC now owns 396,220 shares of the company’s stock valued at $72,714,000 after purchasing an additional 391,076 shares in the last quarter. Nuveen LLC bought a new stake in shares of Constellation Brands during the first quarter worth about $63,377,000. Finally, DAVENPORT & Co LLC grew its holdings in shares of Constellation Brands by 1,594.0% during the first quarter. DAVENPORT & Co LLC now owns 207,655 shares of the company’s stock worth $38,132,000 after purchasing an additional 195,397 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Jefferies Financial Group dropped their price objective on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday. The Goldman Sachs Group decreased their price target on shares of Constellation Brands from $225.00 to $196.00 and set a “buy” rating for the company in a research report on Tuesday. Wall Street Zen upgraded shares of Constellation Brands from a “sell” rating to a “hold” rating in a report on Tuesday, May 20th. Piper Sandler boosted their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a “neutral” rating in a research note on Friday, June 6th. Finally, Bank of America decreased their price objective on Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and a consensus price target of $196.17.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. The trade was a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $146.51 on Thursday. 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 firm’s fifty day simple moving average is $167.74 and its two-hundred day simple moving average is $175.50. Constellation Brands Inc has a 12 month low of $146.32 and a 12 month high of $261.06. The stock has a market capitalization of $25.83 billion, a P/E ratio of -61.30, a price-to-earnings-growth ratio of 0.44 and a beta of 0.67.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data 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). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The business’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $3.57 earnings per share. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, analysts predict that Constellation Brands Inc will post 13.5 EPS for the current 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 paid a $1.02 dividend. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 annualized dividend and a yield of 2.8%. Constellation Brands’s payout ratio is -170.71%.

Constellation Brands Company Profile

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.