Kentucky Retirement Systems Sells 1,216 Shares of Constellation Brands, Inc. (NYSE:STZ)

Kentucky Retirement Systems cut its stake in Constellation Brands, Inc. (NYSE:STZ) by 10.0% in the third quarter, Holdings Channel.com reports. The firm owned 10,916 shares of the company’s stock after selling 1,216 shares during the quarter. Kentucky Retirement Systems’ holdings in Constellation Brands were worth $2,813,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. LRI Investments LLC acquired a new stake in shares of Constellation Brands in the first quarter valued at approximately $37,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $36,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of the company’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 189,296 shares of company stock valued at $45,899,031. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $237.51 on Monday. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock has a market cap of $43.12 billion, a PE ratio of 76.86, a PEG ratio of 1.68 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The firm’s fifty day moving average price is $244.13 and its two-hundred day moving average price is $248.01.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.70 EPS. On average, equities analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a $1.01 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Roth Mkm restated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Morgan Stanley lowered their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Barclays dropped their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $290.47.

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.