Constellation Brands, Inc. (NYSE:STZ) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its stake in Constellation Brands, Inc. (NYSE:STZ) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 120,394 shares of the company’s stock after selling 4,184 shares during the period. New York State Teachers Retirement System’s holdings in Constellation Brands were worth $26,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Asset Planning Inc acquired a new stake in Constellation Brands during the fourth quarter worth about $135,000. V Square Quantitative Management LLC increased its holdings in shares of Constellation Brands by 11.3% during the 4th quarter. V Square Quantitative Management LLC now owns 1,305 shares of the company’s stock worth $288,000 after buying an additional 133 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Constellation Brands during the 4th quarter valued at approximately $27,000. Asset Management One Co. Ltd. lifted its holdings in Constellation Brands by 2.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 62,773 shares of the company’s stock valued at $13,980,000 after acquiring an additional 1,671 shares during the last quarter. Finally, Raab & Moskowitz Asset Management LLC grew its position in Constellation Brands by 43.6% in the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 4,079 shares of the company’s stock worth $901,000 after acquiring an additional 1,239 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on STZ shares. Wells Fargo & Company reduced their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $245.00 to $200.00 in a research report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Constellation Brands in a research report on Monday, January 27th. Roth Capital decreased their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Evercore ISI dropped their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands Trading Down 0.3 %

NYSE STZ opened at $162.69 on Friday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The firm has a 50 day moving average of $201.35 and a two-hundred day moving average of $228.41. The stock has a market capitalization of $29.40 billion, a PE ratio of 43.73, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company earned $3.19 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

Insider Buying and Selling

In related news, major shareholder Wildstar Partners Llc sold 660 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. The trade was a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The disclosure for this purchase can be found here. 12.19% of the stock is owned by company insiders.

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.