Texas Permanent School Fund Corp Sells 6,653 Shares of Constellation Brands, Inc. (NYSE:STZ)

Texas Permanent School Fund Corp decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 20.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,598 shares of the company’s stock after selling 6,653 shares during the period. Texas Permanent School Fund Corp’s holdings in Constellation Brands were worth $6,843,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. New Millennium Group LLC purchased a new position in shares of Constellation Brands in the second quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Constellation Brands during the 2nd quarter valued at about $29,000. Horizon Bancorp Inc. IN purchased a new position in Constellation Brands in the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. bought a new stake in Constellation Brands in the first quarter valued at approximately $35,000. Finally, First Financial Corp IN purchased a new stake in shares of Constellation Brands during the first quarter valued at approximately $35,000. Institutional investors own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on STZ shares. Morgan Stanley decreased their target price on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research note on Monday, August 26th. Barclays lifted their price objective on Constellation Brands from $287.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. reduced their target price on Constellation Brands from $320.00 to $307.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 3rd. Truist Financial reaffirmed a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a research note on Wednesday, July 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $315.00 price objective on shares of Constellation Brands in a research report on Friday, July 5th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Trading Down 0.3 %

NYSE STZ opened at $248.79 on Thursday. The stock’s fifty day moving average price is $246.02 and its 200-day moving average price is $253.79. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The stock has a market cap of $45.52 billion, a P/E ratio of 18.54, a P/E/G ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.91 earnings per share. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.7 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s payout ratio is 30.10%.

Insider Transactions at Constellation Brands

In related news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. Insiders sold 16,414 shares of company stock worth $3,982,922 over the last quarter. 12.19% of the stock is currently owned by insiders.

Constellation Brands 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.