State of Alaska Department of Revenue Has $4.69 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

State of Alaska Department of Revenue raised its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,201 shares of the company’s stock after acquiring an additional 695 shares during the period. State of Alaska Department of Revenue’s holdings in Constellation Brands were worth $4,690,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on STZ. Roth Mkm reiterated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Bank of America reiterated a “neutral” rating and issued a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a report on Friday, October 4th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $290.47.

Insider Activity

In other news, CFO Garth Hankinson sold 13,583 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the company’s 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 approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The shares were 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 $1,220,482.90. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,367 shares of company stock worth $32,539,170. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

STZ stock opened at $236.11 on Wednesday. The firm has a market cap of $43.20 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a 50-day moving average price of $246.09 and a 200-day moving average price of $250.10. Constellation Brands, Inc. has a 1-year low of $230.71 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last issued 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. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The business also recently announced 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 dividend yield of 1.71%. Constellation Brands’s payout ratio is presently 30.10%.

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.