Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 10.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,639 shares of the company’s stock after selling 554 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Constellation Brands were worth $1,195,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Capital International Investors grew its position in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock worth $3,175,583,000 after acquiring an additional 3,304,709 shares during the last quarter. Capital World Investors grew its position in Constellation Brands by 8.7% in the 1st quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock worth $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Constellation Brands by 9.9% in the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company’s stock valued at $671,246,000 after purchasing an additional 222,380 shares during the period. Legal & General Group Plc raised its holdings in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently commented on STZ shares. BMO Capital Markets lowered their target price on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a report on Friday, October 4th. Truist Financial decreased their price objective on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. Finally, TD Cowen cut Constellation Brands from a “buy” rating to a “hold” rating and dropped their target price for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Four investment 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 target price of $290.47.
Insider Buying and Selling at Constellation Brands
In related news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 189,296 shares of company stock worth $45,899,031 over the last 90 days. 12.19% of the stock is currently owned by corporate insiders.
Constellation Brands Stock Performance
Shares of STZ stock opened at $237.51 on Monday. The company has a market capitalization of $43.12 billion, a price-to-earnings ratio of 76.86, a P/E/G ratio of 1.68 and a beta of 0.90. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. 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’s fifty day simple moving average is $244.13 and its 200-day simple moving average is $248.01.
Constellation Brands (NYSE:STZ – Get Free Report) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the company posted $3.70 EPS. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.
Constellation Brands Announces Dividend
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 1.70%. Constellation Brands’s payout ratio is 130.74%.
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.
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