Teachers Retirement System of The State of Kentucky Sells 5,982 Shares of Constellation Brands, Inc. (NYSE:STZ)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,181 shares of the company’s stock after selling 5,982 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Constellation Brands were worth $13,365,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in STZ. Capital International Investors boosted its position in 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 purchasing an additional 3,304,709 shares during the period. Norges Bank bought a new position in Constellation Brands during the fourth quarter worth about $443,844,000. Capital World Investors boosted its position in Constellation Brands by 8.7% during the first 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 period. Boston Partners bought a new position in Constellation Brands during the fourth quarter worth about $156,358,000. Finally, International Assets Investment Management LLC boosted its position in shares of Constellation Brands by 24,922.5% in the fourth quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after acquiring an additional 564,744 shares during the period. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of analyst reports. Roth Mkm cut their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research report on Friday, July 5th. JPMorgan Chase & Co. lifted their target price on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a report on Wednesday. HSBC boosted their price objective on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, April 12th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have issued 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 $300.28.

Constellation Brands Trading Up 0.6 %

Constellation Brands stock traded up $1.57 during mid-day trading on Friday, reaching $246.94. 1,409,592 shares of the company traded hands, compared to its average volume of 1,198,954. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. The firm’s 50 day moving average price is $252.51 and its 200 day moving average price is $254.69. The firm has a market capitalization of $45.00 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 1.62 and a beta of 0.87. Constellation Brands, Inc. has a 52-week low of $227.50 and a 52-week high of $274.87.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, August 14th. Constellation Brands’s payout ratio is currently 30.10%.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the sale, the director now directly owns 3,232 shares in the company, valued at $815,853.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,831 shares of company stock valued at $7,261,502. 12.19% of the stock is currently owned by company insiders.

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.