TBH Global Asset Management LLC Cuts Position in Constellation Brands Inc $STZ

TBH Global Asset Management LLC reduced its position in Constellation Brands Inc (NYSE:STZ) by 7.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,949 shares of the company’s stock after selling 767 shares during the quarter. TBH Global Asset Management LLC’s holdings in Constellation Brands were worth $1,456,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STZ. Arlington Partners LLC acquired a new position in Constellation Brands during the second quarter valued at approximately $2,333,000. Wesbanco Bank Inc. increased its position in shares of Constellation Brands by 10.7% in the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock worth $7,049,000 after acquiring an additional 4,204 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Constellation Brands by 36.4% in the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after acquiring an additional 815 shares during the period. Glenview Trust co lifted its holdings in shares of Constellation Brands by 6.8% during the 1st quarter. Glenview Trust co now owns 69,427 shares of the company’s stock valued at $12,741,000 after acquiring an additional 4,421 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Constellation Brands by 969.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after acquiring an additional 75,834 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on STZ. JPMorgan Chase & Co. raised their price objective on Constellation Brands from $170.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, July 3rd. Barclays reiterated an “equal weight” rating and issued a $150.00 target price (down previously from $202.00) on shares of Constellation Brands in a research note on Friday, September 12th. BNP Paribas Exane downgraded Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 target price on the stock. in a report on Wednesday, September 3rd. Jefferies Financial Group decreased their price target on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, BNP Paribas downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $191.28.

Insider Buying and Selling

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

Constellation Brands Trading Down 0.2%

Shares of STZ opened at $132.42 on Friday. Constellation Brands Inc has a one year low of $131.20 and a one year high of $261.06. The stock has a 50-day moving average price of $157.28 and a 200 day moving average price of $170.89. 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 company has a market capitalization of $23.34 billion, a P/E ratio of -55.41, a P/E/G ratio of 0.40 and a beta of 0.67.

Constellation Brands (NYSE:STZ) last announced its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $3.57 earnings per share. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. Sell-side analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Wednesday, July 30th. Constellation Brands’s dividend 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.