Constellation Brands, Inc. (NYSE:STZ) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 210,294 shares of the company’s stock after selling 20,118 shares during the period. New York State Common Retirement Fund owned about 0.12% of Constellation Brands worth $50,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Impact Partnership Wealth LLC raised its position in shares of Constellation Brands by 1,175.0% in the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. BKM Wealth Management LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $28,000. Asset Dedication LLC raised its position in shares of Constellation Brands by 3,833.3% in the third quarter. Asset Dedication LLC now owns 118 shares of the company’s stock valued at $30,000 after buying an additional 115 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $37,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Constellation Brands in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 4,013 shares of the stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now owns 5,395 shares in the company, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP James A. Jr. Sabia sold 15,781 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The disclosure for this sale can be found here. 16.19% of the stock is currently owned by insiders.

Constellation Brands Stock Up 0.7 %

Shares of NYSE:STZ opened at $261.64 on Wednesday. The stock has a market capitalization of $47.83 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.97. Constellation Brands, Inc. has a 1-year low of $221.81 and a 1-year high of $274.87. The company’s fifty day moving average is $258.78 and its two-hundred day moving average is $247.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the company earned $1.98 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts anticipate that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 3rd will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is currently 37.95%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STZ. Royal Bank of Canada boosted their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. BMO Capital Markets boosted their target price on shares of Constellation Brands from $290.00 to $315.00 and gave the company an “outperform” rating in a report on Friday, April 12th. Piper Sandler initiated coverage on shares of Constellation Brands in a report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price for the company. Bank of America boosted their target price on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.