Teacher Retirement System of Texas Cuts Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Teacher Retirement System of Texas trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 30.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,930 shares of the company's stock after selling 3,856 shares during the quarter. Teacher Retirement System of Texas' holdings in Constellation Brands were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Calton & Associates Inc. purchased a new position in Constellation Brands during the fourth quarter valued at approximately $205,000. Smithfield Trust Co increased its holdings in Constellation Brands by 5.3% in the 4th quarter. Smithfield Trust Co now owns 854 shares of the company's stock valued at $207,000 after buying an additional 43 shares during the period. Principal Securities Inc. bought a new stake in shares of Constellation Brands in the 4th quarter worth about $414,000. Patton Albertson Miller Group LLC grew its holdings in Constellation Brands by 23.2% during the 4th quarter. Patton Albertson Miller Group LLC now owns 19,887 shares of the company's stock worth $4,808,000 after acquiring an additional 3,740 shares during the last quarter. Finally, AR Asset Management Inc. grew its holdings in Constellation Brands by 1.6% during the 4th quarter. AR Asset Management Inc. now owns 11,000 shares of the company's stock worth $2,659,000 after acquiring an additional 175 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Price Performance

NYSE STZ traded up $0.04 during trading hours on Friday, hitting $255.43. The company had a trading volume of 1,415,709 shares, compared to its average volume of 1,198,376. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The firm has a 50 day simple moving average of $262.38 and a 200 day simple moving average of $250.22. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market capitalization of $46.74 billion, a price-to-earnings ratio of 27.23, a PEG ratio of 1.70 and a beta of 0.95.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the company earned $1.98 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend is Thursday, May 2nd. This is an increase from Constellation Brands's previous quarterly dividend of $0.89. Constellation Brands's dividend payout ratio (DPR) is 43.07%.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of Constellation Brands stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 5,395 shares of the company's stock, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 20,910 shares in the company, valued at $5,512,503.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 48,031 shares of company stock worth $12,582,321. 16.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STZ. Piper Sandler assumed coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an "overweight" rating and a $300.00 price target on the stock. Jefferies Financial Group upped their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the company a "buy" rating in a report on Friday, April 12th. Argus raised shares of Constellation Brands from a "hold" rating to a "buy" rating and set a $306.00 target price for the company in a research report on Monday, April 15th. Wedbush reaffirmed an "outperform" rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Finally, BMO Capital Markets upped their target price on Constellation Brands from $290.00 to $315.00 and gave the stock an "outperform" rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average target price of $298.55.

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.