Public Employees Retirement System of Ohio Sells 24,158 Shares of Constellation Brands Inc $STZ

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Constellation Brands Inc by 37.3%, selling 24,158 shares and now holding a total of 40,567 shares worth approximately $6.6 million.
• Several research analysts have downgraded their price targets for Constellation Brands, with Citigroup lowering theirs from $155.00 to $145.00 and Goldman Sachs dropping theirs from $225.00 to $196.00.
• Constellation Brands reported earnings per share of $3.22 in its latest quarter, missing estimates and demonstrating a year-over-year revenue decline of 5.5%.

Public Employees Retirement System of Ohio lowered its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 37.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 40,567 shares of the company's stock after selling 24,158 shares during the period. Public Employees Retirement System of Ohio's holdings in Constellation Brands were worth $6,599,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in STZ. Laurel Wealth Advisors LLC purchased a new stake in shares of Constellation Brands during the first quarter valued at $32,000. Rakuten Securities Inc. increased its holdings in Constellation Brands by 805.0% in the 1st quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock valued at $33,000 after acquiring an additional 161 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Constellation Brands during the 1st quarter worth approximately $38,000. Flaharty Asset Management LLC bought a new position in shares of Constellation Brands in the 1st quarter valued at about $39,000. Finally, Hoey Investments Inc. purchased a new position in Constellation Brands during the second quarter worth $40,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on STZ shares. Citigroup reduced their price target on shares of Constellation Brands from $155.00 to $145.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 23rd. The Goldman Sachs Group dropped their price objective on shares of Constellation Brands from $225.00 to $196.00 and set a "buy" rating on the stock in a report on Tuesday, September 2nd. Wells Fargo & Company reduced their price objective on Constellation Brands from $170.00 to $155.00 and set an "overweight" rating for the company in a research note on Thursday. Roth Capital reaffirmed a "buy" rating and issued a $209.00 price target (down previously from $239.00) on shares of Constellation Brands in a report on Wednesday, September 3rd. Finally, Piper Sandler increased their price objective on Constellation Brands from $165.00 to $170.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of "Hold" and a consensus price target of $191.28.

Constellation Brands Trading Down 0.2%

NYSE:STZ opened at $132.42 on Monday. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $261.06. The firm has a market cap of $23.34 billion, a PE ratio of -55.41, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The stock has a fifty day moving average price of $157.28 and a 200 day moving average price of $170.81.

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

Constellation Brands Announces Dividend

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 $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Wednesday, July 30th. Constellation Brands's dividend payout ratio is currently -170.71%.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction on Monday, July 21st. The shares were 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 $1,595,022. The trade was a 8.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.45% of the company's stock.

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.

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