New York State Teachers Retirement System Acquires 13,633 Shares of Constellation Brands Inc $STZ

Key Points

• New York State Teachers Retirement System raised its stake in Constellation Brands by 11.8%, buying 13,633 shares to hold 128,887 shares worth about $17.78 million (roughly 0.07% of the company).
• Constellation beat quarterly estimates with EPS of $1.90 vs. $1.71 expected and revenue of $1.92B vs. $1.84B, although revenue was down 11.3% year‑over‑year.
• The company increased its quarterly dividend to $1.03 (annualized $4.12, ~2.7% yield), and analysts have a consensus rating of "Moderate Buy" with an average target of $178.14.

New York State Teachers Retirement System boosted its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 11.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,887 shares of the company's stock after acquiring an additional 13,633 shares during the quarter. New York State Teachers Retirement System owned 0.07% of Constellation Brands worth $17,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Root Financial Partners LLC bought a new position in Constellation Brands in the 3rd quarter valued at approximately $26,000. Stance Capital LLC bought a new position in Constellation Brands in the 3rd quarter valued at approximately $26,000. GoalVest Advisory LLC bought a new position in Constellation Brands in the 4th quarter valued at approximately $28,000. Salomon & Ludwin LLC bought a new position in Constellation Brands in the 3rd quarter valued at approximately $30,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in Constellation Brands in the 4th quarter valued at approximately $39,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

Shares of STZ opened at $152.88 on Friday. The firm has a market cap of $26.33 billion, a PE ratio of 15.94, a P/E/G ratio of 3.35 and a beta of 0.43. The company has a current ratio of 1.08, a quick ratio of 0.55 and a debt-to-equity ratio of 1.16. The firm has a fifty day simple moving average of $154.67 and a two-hundred day simple moving average of $147.71. Constellation Brands Inc has a 1-year low of $126.45 and a 1-year high of $196.91.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The company's quarterly revenue was down 11.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.63 EPS. On average, equities analysts anticipate that Constellation Brands Inc will post 11.9 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th will be paid a $1.03 dividend. This is a positive change from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 29th. This represents a $4.12 annualized dividend and a dividend yield of 2.7%. Constellation Brands's dividend payout ratio (DPR) is currently 42.96%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STZ. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $185.00 price objective on shares of Constellation Brands in a research report on Friday, April 10th. Sanford C. Bernstein boosted their target price on shares of Constellation Brands from $195.00 to $197.00 and gave the company an "outperform" rating in a research note on Friday, January 9th. JPMorgan Chase & Co. boosted their target price on shares of Constellation Brands from $155.00 to $163.00 and gave the company a "neutral" rating in a research note on Wednesday, April 1st. Barclays boosted their target price on shares of Constellation Brands from $151.00 to $170.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Finally, Roth Mkm reiterated a "buy" rating on shares of Constellation Brands in a research note on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average target price of $178.14.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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