South Dakota Investment Council Purchases 85,756 Shares of Constellation Brands Inc (NYSE:STZ)

South Dakota Investment Council raised its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 628.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,394 shares of the company's stock after buying an additional 85,756 shares during the period. South Dakota Investment Council owned about 0.05% of Constellation Brands worth $18,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in STZ. Vanguard Group Inc. lifted its position in shares of Constellation Brands by 13.3% during the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. Capital World Investors increased its holdings in Constellation Brands by 3.4% during the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after buying an additional 324,690 shares during the last quarter. Berkshire Hathaway Inc purchased a new stake in Constellation Brands during the fourth quarter worth about $1,242,976,000. Geode Capital Management LLC increased its holdings in Constellation Brands by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after buying an additional 63,323 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock worth $641,336,000 after buying an additional 18,557 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

STZ traded down $0.80 during midday trading on Friday, hitting $170.72. 1,911,327 shares of the company traded hands, compared to its average volume of 1,948,351. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $30.10 billion, a PE ratio of -71.43, a price-to-earnings-growth ratio of 10.32 and a beta of 0.67. The company's 50-day moving average is $173.47 and its 200 day moving average is $179.55. Constellation Brands Inc has a 52 week low of $159.35 and a 52 week high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data 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). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. During the same quarter last year, the company earned $3.57 EPS. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts expect that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's payout ratio is -170.71%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STZ shares. Wall Street Zen raised shares of Constellation Brands from a "sell" rating to a "hold" rating in a research note on Tuesday, May 20th. Wells Fargo & Company dropped their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating for the company in a research report on Wednesday, June 25th. Royal Bank Of Canada dropped their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Piper Sandler boosted their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Finally, Citigroup upped their price objective on shares of Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Eleven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.45% of the stock is currently owned by company insiders.

Constellation Brands Company 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.