Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,216 shares of the company’s stock after selling 716 shares during the period. Kentucky Retirement Systems’ holdings in Constellation Brands were worth $3,320,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. YHB Investment Advisors Inc. acquired a new stake in Constellation Brands during the 1st quarter valued at $35,000. Kapitalo Investimentos Ltda bought a new position in Constellation Brands during the 4th quarter valued at $35,000. First Financial Corp IN bought a new position in Constellation Brands during the 1st quarter valued at $35,000. Turtle Creek Wealth Advisors LLC bought a new position in Constellation Brands during the 4th quarter valued at $37,000. Finally, Fidelis Capital Partners LLC bought a new position in Constellation Brands during the 1st quarter valued at $45,000. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of STZ traded up $4.10 during mid-day trading on Friday, hitting $253.48. The company’s stock had a trading volume of 846,431 shares, compared to its average volume of 1,287,151. The firm has a 50-day moving average price of $252.86 and a 200 day moving average price of $255.09. The stock has a market capitalization of $46.19 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.67 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.91 EPS. On average, research analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be paid a $1.01 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.59%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analyst Weigh In

A number of research analysts have commented on STZ shares. HSBC increased their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Roth Mkm reduced their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research report on Friday, July 5th. Jefferies Financial Group raised their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $300.28.

Insider Transactions at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total value of $6,538,500.00. Following the transaction, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of Constellation Brands stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. Insiders have sold 29,214 shares of company stock valued at $7,620,551 in the last quarter. 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.