New York State Common Retirement Fund Sells 1,200 Shares of Constellation Brands, Inc. (NYSE:STZ)

New York State Common Retirement Fund lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 202,465 shares of the company’s stock after selling 1,200 shares during the quarter. New York State Common Retirement Fund’s holdings in Constellation Brands were worth $52,173,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. SeaCrest Wealth Management LLC purchased a new position in shares of Constellation Brands during the 1st quarter valued at $232,000. Norden Group LLC bought a new position in Constellation Brands in the 1st quarter worth about $924,000. First Trust Direct Indexing L.P. increased its stake in Constellation Brands by 25.7% in the 1st quarter. First Trust Direct Indexing L.P. now owns 2,804 shares of the company’s stock worth $762,000 after acquiring an additional 574 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in Constellation Brands by 3.9% in the 1st quarter. J.W. Cole Advisors Inc. now owns 1,751 shares of the company’s stock worth $476,000 after acquiring an additional 65 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in Constellation Brands in the 1st quarter worth about $471,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $232.77 on Friday. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 75.33, a price-to-earnings-growth ratio of 1.66 and a beta of 0.88. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The business has a 50-day moving average price of $245.43 and a 200-day moving average price of $249.70. Constellation Brands, Inc. has a twelve month low of $231.70 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same period in the prior year, the company earned $3.70 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. As a group, equities 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 declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be issued a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.74%. Constellation Brands’s payout ratio is 130.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America restated a “neutral” rating and issued a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Morgan Stanley reduced their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Barclays reduced their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Finally, Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Transactions at Constellation Brands

In other news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction that occurred 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 directly owns 11,702 shares in the company, valued at approximately $2,808,480. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares in the company, valued at $2,808,480. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,793 shares of company stock worth $34,300,914. 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.