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

Kentucky Retirement Systems decreased its position in Constellation Brands, Inc. (NYSE:STZ) by 0.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,132 shares of the company’s stock after selling 84 shares during the quarter. Kentucky Retirement Systems’ holdings in Constellation Brands were worth $3,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in STZ. EverSource Wealth Advisors LLC raised its stake in Constellation Brands by 16.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,654 shares of the company’s stock valued at $400,000 after purchasing an additional 238 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Constellation Brands by 3.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,593 shares of the company’s stock valued at $5,462,000 after purchasing an additional 843 shares during the last quarter. Hohimer Wealth Management LLC raised its stake in Constellation Brands by 0.9% in the 4th quarter. Hohimer Wealth Management LLC now owns 14,886 shares of the company’s stock valued at $3,599,000 after purchasing an additional 128 shares during the last quarter. Commerce Bank raised its stake in Constellation Brands by 5.6% in the 4th quarter. Commerce Bank now owns 14,011 shares of the company’s stock valued at $3,387,000 after purchasing an additional 742 shares during the last quarter. Finally, FineMark National Bank & Trust raised its stake in Constellation Brands by 51.0% in the 4th quarter. FineMark National Bank & Trust now owns 39,414 shares of the company’s stock valued at $9,528,000 after purchasing an additional 13,311 shares during the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of several recent analyst reports. Barclays lifted their price target on Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, July 19th. BMO Capital Markets restated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a report on Friday, July 5th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price target on shares of Constellation Brands in a report on Tuesday. Truist Financial restated a “hold” rating and issued a $265.00 price target on shares of Constellation Brands in a report on Wednesday, July 3rd. Finally, UBS Group lowered their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $296.78.

Constellation Brands Stock Performance

Shares of STZ opened at $248.34 on Friday. The business’s 50 day moving average is $245.66 and its two-hundred day moving average is $253.90. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87. The firm has a market cap of $45.44 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.69 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last announced its earnings results on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the company posted $2.91 EPS. Constellation Brands’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts forecast that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 14th were given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was 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 of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the sale, the director now directly owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kaneenat Kristann Carey sold 977 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the sale, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,414 shares of company stock valued at $3,982,922. Corporate insiders own 12.19% of the company’s stock.

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.