Teachers Retirement System of The State of Kentucky Sells 23,699 Shares of Constellation Brands Inc (NYSE:STZ)

Teachers Retirement System of The State of Kentucky reduced its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 66.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,055 shares of the company's stock after selling 23,699 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Constellation Brands were worth $2,212,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Minot DeBlois Advisors LLC acquired a new stake in Constellation Brands in the 4th quarter valued at about $29,000. Optiver Holding B.V. acquired a new stake in shares of Constellation Brands in the fourth quarter valued at approximately $31,000. Laurel Wealth Advisors LLC bought a new position in Constellation Brands in the 1st quarter worth approximately $32,000. Rakuten Securities Inc. lifted its holdings in Constellation Brands by 805.0% during the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Constellation Brands in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group upped their target price on shares of Constellation Brands from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Roth Mkm reduced their price objective on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and upped their target price for the company from $190.00 to $215.00 in a research report on Wednesday, May 7th. Needham & Company LLC lifted their price objective on Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Cowen restated a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of "Moderate Buy" and a consensus price target of $213.74.

Constellation Brands Trading Down 0.2%

Shares of STZ stock traded down $0.38 on Thursday, hitting $175.71. The stock had a trading volume of 1,332,381 shares, compared to its average volume of 2,518,607. The firm has a market capitalization of $30.98 billion, a P/E ratio of -73.52, a P/E/G ratio of 10.66 and a beta of 0.67. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The company's 50 day moving average price is $172.27 and its 200-day moving average price is $178.50.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its earnings results 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 firm had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.57 earnings per share. Analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be issued a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.32%. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president owned 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is currently owned by company insiders.

Constellation Brands 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.