New York State Common Retirement Fund lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,294 shares of the company's stock after selling 20,118 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Constellation Brands worth $50,839,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. California Public Employees Retirement System raised its stake in Constellation Brands by 2.0% during the 4th quarter. California Public Employees Retirement System now owns 730,568 shares of the company's stock valued at $176,615,000 after purchasing an additional 14,481 shares during the period. Stock Yards Bank & Trust Co. raised its stake in Constellation Brands by 5.8% during the 4th quarter. Stock Yards Bank & Trust Co. now owns 70,585 shares of the company's stock valued at $17,064,000 after purchasing an additional 3,854 shares during the period. Telemus Capital LLC raised its stake in Constellation Brands by 1.4% during the 4th quarter. Telemus Capital LLC now owns 25,560 shares of the company's stock valued at $6,179,000 after purchasing an additional 362 shares during the period. OLD National Bancorp IN raised its stake in Constellation Brands by 4.8% during the 4th quarter. OLD National Bancorp IN now owns 48,654 shares of the company's stock valued at $11,762,000 after purchasing an additional 2,216 shares during the period. Finally, Klingenstein Fields & Co. LP raised its stake in Constellation Brands by 1.0% during the 4th quarter. Klingenstein Fields & Co. LP now owns 115,560 shares of the company's stock valued at $27,937,000 after purchasing an additional 1,113 shares during the period. Institutional investors own 77.34% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on STZ shares. Wedbush reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Constellation Brands in a research note on Wednesday, April 10th. Piper Sandler started coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an "overweight" rating and a $300.00 price objective on the stock. BMO Capital Markets lifted their price objective on Constellation Brands from $290.00 to $315.00 and gave the stock an "outperform" rating in a research note on Friday, April 12th. TheStreet downgraded Constellation Brands from a "b" rating to a "c+" rating in a research note on Friday, January 5th. Finally, Barclays lifted their price objective on Constellation Brands from $294.00 to $295.00 and gave the stock an "overweight" rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $298.55.
Check Out Our Latest Analysis on Constellation Brands
Constellation Brands Trading Down 0.0 %
STZ traded down $0.11 during trading hours on Wednesday, reaching $261.55. 1,075,072 shares of the company's stock traded hands, compared to its average volume of 1,266,828. The firm has a 50-day moving average price of $258.78 and a 200 day moving average price of $247.57. Constellation Brands, Inc. has a 52-week low of $221.81 and a 52-week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $47.82 billion, a PE ratio of 27.84, a PEG ratio of 1.75 and a beta of 0.97.
Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion during the quarter, compared to analysts' expectations of $2.09 billion. During the same quarter in the previous year, the business earned $1.98 EPS. Constellation Brands's revenue was up 7.1% compared to the same quarter last year. As a group, sell-side analysts predict that Constellation Brands, Inc. will post 13.51 EPS for the current fiscal year.
Constellation Brands Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.54%. This is a boost from Constellation Brands's previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. Constellation Brands's dividend payout ratio is currently 37.95%.
Insiders Place Their Bets
In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the completion of the sale, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 4,013 shares of the company's stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the sale, the chief executive officer now owns 5,395 shares of the company's stock, valued at $1,420,233.75. The disclosure for this sale can be found here. Company insiders own 16.19% of the company's stock.
Constellation Brands Profile
(
Free Report)
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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.
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