Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800 shares of the company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Constellation Brands were worth $2,268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands in the second quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands during the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of Constellation Brands in the 2nd quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Constellation Brands in the second quarter valued at $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands during the second quarter valued at about $36,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ opened at $236.11 on Wednesday. The business’s 50-day moving average is $246.09 and its 200-day moving average is $250.10. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a market capitalization of $43.20 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 1.70 and a beta of 1.75. Constellation Brands, Inc. has a fifty-two week low of $230.71 and a fifty-two week high of $274.87.

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

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.71%. Constellation Brands’s payout ratio is 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on 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 $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,367 shares of company stock worth $32,539,170 over the last 90 days. 12.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

STZ has been the topic of several research reports. UBS Group dropped their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Jefferies Financial Group boosted their target price on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a report on Friday, July 5th. JPMorgan Chase & Co. reduced their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Finally, Evercore ISI cut their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.