Constellation Brands Inc $STZ Stock: Wedbush Securities Inc. Trims Holdings

Wedbush Securities Inc. trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 75.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,592 shares of the company’s stock after selling 8,025 shares during the period. Wedbush Securities Inc.’s holdings in Constellation Brands were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Constellation Brands by 5.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,826,652 shares of the company’s stock valued at $274,029,000 after buying an additional 88,538 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Constellation Brands by 9.5% during the 1st quarter. Bank of America Corp DE now owns 1,403,275 shares of the company’s stock worth $210,491,000 after acquiring an additional 121,515 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Constellation Brands by 4.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,042,651 shares of the company’s stock worth $156,398,000 after acquiring an additional 40,124 shares during the period. Empyrean Capital Partners LP lifted its holdings in shares of Constellation Brands by 3.3% during the 1st quarter. Empyrean Capital Partners LP now owns 606,200 shares of the company’s stock worth $90,930,000 after acquiring an additional 19,500 shares during the period. Finally, Nykredit A S acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $83,687,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Down 0.7%

Shares of NYSE STZ opened at $129.78 on Thursday. The company has a current ratio of 1.00, a quick ratio of 0.53 and a debt-to-equity ratio of 1.02. The company has a market cap of $21.96 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 2.84 and a beta of 1.75. Constellation Brands Inc has a 12 month low of $110.60 and a 12 month high of $168.60. The stock has a 50-day moving average price of $125.42 and a two-hundred day moving average price of $142.01.

Constellation Brands (NYSE:STZ) last posted its earnings results on Tuesday, October 6th. The company reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $3.62 by $0.12. Constellation Brands had a net margin of 19.57% and a return on equity of 24.75%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the business earned $3.63 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. As a group, analysts forecast that Constellation Brands Inc will post 11.85 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 30th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 30th. Constellation Brands’s dividend payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STZ. Citigroup reissued a “negative” rating on shares of Constellation Brands in a research note on Wednesday, October 7th. Morgan Stanley restated a “negative” rating and set a $145.00 price objective (down from $158.00) on shares of Constellation Brands in a research report on Thursday, October 8th. TD Cowen cut their target price on Constellation Brands from $174.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Wells Fargo & Company reduced their target price on Constellation Brands from $170.00 to $140.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Finally, Weiss Ratings downgraded Constellation Brands from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Twelve research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $153.09.

About Constellation Brands

Constellation Brands, Inc is a beverage alcohol company that develops, produces, markets and distributes beer, wine and spirits. Its beer portfolio includes Modelo Especial, Corona Extra, Corona Light, Pacifico and Victoria, while its wine and spirits brands include Robert Mondavi, Kim Crawford, Meiomi, The Prisoner Wine Company, Simi, Ruffino, High West and Casa Noble.

The company’s beer business is primarily focused on the United States, where Constellation markets and distributes several leading Mexican beer brands under license from Grupo Modelo.