Teacher Retirement System of Texas Increases Stake in Constellation Brands Inc (NYSE:STZ)

Teacher Retirement System of Texas increased its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 225.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,331 shares of the company's stock after purchasing an additional 21,695 shares during the quarter. Teacher Retirement System of Texas' holdings in Constellation Brands were worth $5,750,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its position in Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after purchasing an additional 815 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Constellation Brands in the 4th quarter valued at approximately $26,000. Golden State Wealth Management LLC increased its position in Constellation Brands by 137.0% in the 1st quarter. Golden State Wealth Management LLC now owns 2,204 shares of the company's stock valued at $405,000 after acquiring an additional 1,274 shares during the period. Oppenheimer Asset Management Inc. increased its position in Constellation Brands by 28.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,360 shares of the company's stock valued at $1,351,000 after acquiring an additional 1,651 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Constellation Brands by 8.1% in the 1st quarter. Johnson Investment Counsel Inc. now owns 2,495 shares of the company's stock valued at $458,000 after acquiring an additional 187 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STZ has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Cowen reiterated a "hold" rating on shares of Constellation Brands in a research report on Monday. CJS Securities decreased their price objective on shares of Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Bernstein Bank cut their target price on shares of Constellation Brands from $260.00 to $225.00 and set an "outperform" rating on the stock in a research note on Thursday, April 10th. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $210.00 to $196.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Eleven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $213.74.

Insider Activity at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 12.45% of the stock is owned by insiders.

Constellation Brands Stock Performance

Shares of STZ traded up $0.12 during trading hours on Tuesday, hitting $170.46. The company's stock had a trading volume of 131,211 shares, compared to its average volume of 1,906,519. The company has a market cap of $30.34 billion, a price-to-earnings ratio of -71.33, a PEG ratio of 9.57 and a beta of 1.75. 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 business has a 50 day simple moving average of $176.80 and a two-hundred day simple moving average of $182.62. Constellation Brands Inc has a 52-week low of $159.35 and a 52-week high of $264.45.

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 analysts' consensus estimates of $3.45 by ($0.23). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business's revenue was down 5.5% on a year-over-year basis. During the same period last year, the company posted $3.57 EPS. On average, equities analysts expect that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

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. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's payout ratio is -170.71%.

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.