Public Employees Retirement Association of Colorado Lowers Holdings in Constellation Brands, Inc. (NYSE:STZ)

Public Employees Retirement Association of Colorado lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,704 shares of the company’s stock after selling 426 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Constellation Brands were worth $5,841,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. New Millennium Group LLC acquired a new position in Constellation Brands in the second quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Constellation Brands in the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands during the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands in the 1st quarter valued at approximately $35,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Constellation Brands in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.1 %

STZ opened at $248.09 on Monday. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06. The firm has a market cap of $45.39 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The business’s 50 day moving average is $245.42 and its two-hundred day moving average is $253.98. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87.

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

Constellation Brands Announces Dividend

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

Wall Street Analyst Weigh In

STZ has been the subject of several research analyst reports. 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 research report on Monday, September 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $315.00 target price on shares of Constellation Brands in a research report on Friday, July 5th. Roth Mkm cut their price target on shares of Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group lifted their target price on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $296.29.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of Constellation Brands stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 11,702 shares in the company, valued at approximately $2,808,480. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $240.00, for a total value of $3,259,920.00. Following the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares of the company’s stock, valued at approximately $706,266. The disclosure for this sale can be found here. In the last three months, insiders sold 16,414 shares of company stock valued at $3,982,922. Corporate insiders own 12.19% of the company’s stock.

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.