State of Tennessee Department of Treasury Increases Stake in Constellation Brands, Inc. (NYSE:STZ)

State of Tennessee Department of Treasury raised its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 44.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 73,435 shares of the company's stock after purchasing an additional 22,738 shares during the quarter. State of Tennessee Department of Treasury's holdings in Constellation Brands were worth $16,229,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in STZ. Norges Bank purchased a new position in shares of Constellation Brands in the fourth quarter valued at about $445,883,000. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock worth $3,433,188,000 after purchasing an additional 1,821,969 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Constellation Brands by 1,844.7% in the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock worth $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after purchasing an additional 736,780 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Constellation Brands during the 4th quarter valued at approximately $105,766,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on STZ. Wells Fargo & Company reduced their target price on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Truist Financial decreased their price objective on shares of Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. Piper Sandler lowered shares of Constellation Brands from an "overweight" rating to a "neutral" rating and cut their target price for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. Citigroup decreased their price target on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, StockNews.com cut Constellation Brands from a "hold" rating to a "sell" rating in a research report on Thursday, April 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of "Hold" and a consensus target price of $224.42.

Constellation Brands Stock Performance

STZ traded up $1.25 during midday trading on Monday, hitting $186.60. 340,762 shares of the company traded hands, compared to its average volume of 2,738,542. The company's 50-day moving average is $180.88 and its 200 day moving average is $204.36. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $33.72 billion, a PE ratio of 50.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter in the prior year, the firm earned $2.26 earnings per share. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 2.19%. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is presently -800.00%.

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.