Constellation Brands Inc $STZ Stake Cut by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Constellation Brands Inc by 5.5% in the first quarter, leaving it with a position valued at $10.15 million.
• Analysts are optimistic about Constellation Brands, with multiple firms raising their price targets, indicating a consensus rating of "Moderate Buy" and a price target of $213.74.
• Constellation Brands recently declared a quarterly dividend of $1.02 per share, resulting in an annualized yield of 2.4%.

State of New Jersey Common Pension Fund D decreased its holdings in Constellation Brands Inc (NYSE:STZ - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,278 shares of the company's stock after selling 3,234 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Constellation Brands were worth $10,145,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of STZ. Berkshire Hathaway Inc bought a new position in shares of Constellation Brands in the fourth quarter worth $1,242,976,000. Vanguard Group Inc. grew its stake in shares of Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company's stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares in the last quarter. D1 Capital Partners L.P. grew its stake in shares of Constellation Brands by 186.6% in the fourth quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock worth $337,619,000 after purchasing an additional 994,639 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Constellation Brands by 7,602.6% in the first quarter. GAMMA Investing LLC now owns 396,220 shares of the company's stock worth $72,714,000 after purchasing an additional 391,076 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Constellation Brands in the first quarter worth $63,377,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 0.9%

Shares of NYSE:STZ traded down $1.4730 during midday trading on Thursday, reaching $164.8270. The company had a trading volume of 1,559,673 shares, compared to its average volume of 2,386,624. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.68 and a current ratio of 1.07. Constellation Brands Inc has a 1-year low of $159.35 and a 1-year high of $261.06. The firm has a market cap of $29.06 billion, a price-to-earnings ratio of -68.97, a price-to-earnings-growth ratio of 10.04 and a beta of 0.67. The company has a fifty day simple moving average of $168.40 and a two-hundred day simple moving average of $176.05.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly 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 negative net margin of 4.11% and a positive return on equity of 31.41%. The company had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the business earned $3.57 EPS. The company's revenue for the quarter was down 5.5% compared to the same quarter last year. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. Research analysts predict 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 was paid on Thursday, August 14th. Investors of record on Wednesday, July 30th were given a $1.02 dividend. The ex-dividend date was Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.5%. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

Insider Buying and Selling at Constellation Brands

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 completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America raised their target price on Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. The Goldman Sachs Group set a $225.00 target price on Constellation Brands and gave the company a "buy" rating in a research note on Friday, June 27th. Deutsche Bank Aktiengesellschaft decreased their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating for the company in a research note on Thursday, June 5th. Jefferies Financial Group raised Constellation Brands from a "hold" rating to a "buy" rating and raised their target price for the company from $194.00 to $205.00 in a research note on Monday, July 7th. Finally, Cowen reaffirmed a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

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.