Shelter Ins Retirement Plan Invests $737.18 Million in Constellation Brands Inc $STZ

Shelter Ins Retirement Plan purchased a new position in shares of Constellation Brands Inc (NYSE:STZ) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 5,300 shares of the company’s stock, valued at approximately $737,177,000. Constellation Brands accounts for 0.7% of Shelter Ins Retirement Plan’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of Constellation Brands by 23.0% in the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after buying an additional 187 shares during the period. Woodline Partners LP bought a new position in Constellation Brands in the 1st quarter valued at $2,409,000. Cary Street Partners Financial LLC grew its position in Constellation Brands by 69.9% in the 2nd quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock valued at $167,000 after acquiring an additional 422 shares during the last quarter. Bank of Nova Scotia grew its position in Constellation Brands by 3.6% in the 2nd quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock valued at $2,822,000 after acquiring an additional 599 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after purchasing an additional 1,127 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Constellation Brands from $155.00 to $150.00 and set a “hold” rating for the company in a research note on Thursday, July 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $190.00 price objective on shares of Constellation Brands in a report on Thursday, July 2nd. TD Cowen reissued a “buy” rating and issued a $174.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 1st. Wells Fargo & Company dropped their target price on shares of Constellation Brands from $185.00 to $170.00 and set an “overweight” rating on the stock in a research note on Monday, June 29th. Finally, Morgan Stanley reduced their target price on shares of Constellation Brands from $183.00 to $158.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Constellation Brands presently has an average rating of “Hold” and a consensus target price of $167.53.

Constellation Brands Price Performance

STZ opened at $134.10 on Friday. The company has a market capitalization of $22.90 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 4.15 and a beta of 0.40. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $168.60. The business’s fifty day simple moving average is $135.46 and its 200-day simple moving average is $146.24.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.27). Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the previous year, the firm earned $3.22 earnings per share. The business’s revenue was down 3.3% compared to the same quarter last year. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. On average, equities research analysts anticipate that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, July 30th were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $4.12 dividend on an annualized basis and a yield of 3.1%. Constellation Brands’s dividend payout ratio (DPR) is 39.31%.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.