One of the stocks investors are focusing on today is Constellation Brands (NYSE:STZ). Today, the company reported earnings, and investors appear to like what they see. Currently, STZ stock is trading around 1% higher on the news.
Constellation reported strong earnings, which beat consensus expectations. Earnings per share of $1.98 beat consensus estimates of $1.83 per share, on sales of nearly $2 billion.
Unfortunately, Constellation did slightly miss on the top line, where analysts had pegged the company reporting $2.01 billion. That said, stronger-than-expected margins appear to be enough to raise investors’ view of the beer and spirits company.
Notably, beer sales continued to decline this past quarter (2% year-over-year), but this was overshadowed by wine and spirits sales, which plunged by a greater margin (9% compared to the same quarter last year). That said, Constellation has done a good job on passing on inflationary pressures to consumers and shoring up its margins in the process.
Overall, this report was mixed, and the market appears to still be digesting the numbers. We’ll have to wait to see how this stock settles at the end of the trading day.
With that said, here are some of the top investors betting on Constellation right now.
Top 5 Investors in STZ Stock
According to Yahoo Finance, here are the top five institutional holders of Constellation Brands as of Dec. 30, 2022.
- Vanguard Group owns 13.1 million shares, or 7.1% of the company.
- Blackrock (NYSE:BLK) owns 11.1 million shares, or 6% of the company.
- State Street (NYSE:STT) owns 7 million shares, or 3.8% of the company.
- Capital World Investors owns 6.7 million shares, or 3.6% of the company.
- FMR owns 5.1 million shares, or 2.8% of the company.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
