Retirement Systems of Alabama Sells 105,663 Shares of Constellation Brands, Inc. (NYSE:STZ)

Retirement Systems of Alabama decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 75.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,631 shares of the company’s stock after selling 105,663 shares during the period. Retirement Systems of Alabama’s holdings in Constellation Brands were worth $8,924,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new position in shares of Constellation Brands in the 3rd quarter valued at $223,000. Wilmington Savings Fund Society FSB lifted its stake in shares of Constellation Brands by 260.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 20,495 shares of the company’s stock worth $5,281,000 after purchasing an additional 14,813 shares during the last quarter. Arvest Bank Trust Division bought a new stake in Constellation Brands during the third quarter valued at about $243,000. World Investment Advisors LLC boosted its position in Constellation Brands by 36.6% during the third quarter. World Investment Advisors LLC now owns 2,550 shares of the company’s stock valued at $657,000 after purchasing an additional 683 shares in the last quarter. Finally, Hohimer Wealth Management LLC grew its stake in Constellation Brands by 3.1% in the third quarter. Hohimer Wealth Management LLC now owns 4,239 shares of the company’s stock valued at $1,092,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 2.8 %

NYSE STZ opened at $232.92 on Tuesday. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a market capitalization of $42.29 billion, a PE ratio of 75.38, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a fifty day moving average of $238.79 and a 200 day moving average of $245.94.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share 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 business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter last year, the business posted $3.70 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.73%. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analysts Forecast Growth

Several analysts have commented on STZ shares. Truist Financial decreased their price target on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Roth Mkm reaffirmed a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Wells Fargo & Company lowered their price objective on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Finally, Evercore ISI reduced their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $288.70.

Insider Activity

In other news, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the transaction, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 in the last three months. 12.19% of the stock is currently owned by corporate insiders.

About Constellation Brands

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.