Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its position in Constellation Brands, Inc. (NYSE:STZ) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 10,767 shares of the company’s stock after selling 149 shares during the quarter. Kentucky Retirement Systems’ holdings in Constellation Brands were worth $2,380,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in Constellation Brands by 1,844.7% in the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the last quarter. Copperleaf Capital LLC acquired a new position in Constellation Brands in the 4th quarter valued at $343,000. Grimes & Company Inc. acquired a new position in Constellation Brands in the 4th quarter valued at $6,099,000. Empowered Funds LLC raised its stake in Constellation Brands by 62.8% in the 4th quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock valued at $3,663,000 after purchasing an additional 6,391 shares during the last quarter. Finally, Southern Style Financial Inc. purchased a new stake in Constellation Brands in the 4th quarter valued at $3,074,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

STZ stock opened at $176.00 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The firm has a market capitalization of $31.81 billion, a P/E ratio of 47.31, a P/E/G ratio of 1.52 and a beta of 1.75. The business’s 50-day moving average is $194.29 and its two-hundred day moving average is $225.79. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the business earned $3.19 EPS. Analysts anticipate 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 was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares of the company’s stock, valued at approximately $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

STZ has been the subject of several analyst reports. Truist Financial dropped their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $240.00 target price on shares of Constellation Brands in a report on Monday, January 27th. Jefferies Financial Group restated a “hold” rating and issued a $201.00 target price (down from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Evercore ISI dropped their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a report on Monday, January 13th. Finally, BNP Paribas initiated coverage on Constellation Brands in a report on Monday, November 25th. They issued a “neutral” rating and a $261.00 target price for the company. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

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.