58,434 Shares in Constellation Brands, Inc. (NYSE:STZ) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky bought a new position in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 58,434 shares of the company’s stock, valued at approximately $13,422,000.

A number of other large investors have also modified their holdings of STZ. Guardian Wealth Advisors LLC acquired a new position in Constellation Brands during the third quarter worth $37,000. BOK Financial Private Wealth Inc. purchased a new stake in shares of Constellation Brands during the 3rd quarter worth $45,000. Jones Financial Companies Lllp grew its stake in shares of Constellation Brands by 133.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 203 shares of the company’s stock worth $47,000 after purchasing an additional 116 shares during the period. Insight Inv LLC purchased a new position in shares of Constellation Brands in the 2nd quarter valued at about $58,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Constellation Brands in the third quarter valued at about $57,000. 84.87% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Stock Down 0.2 %

Shares of NYSE:STZ opened at $215.65 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.63 and a debt-to-equity ratio of 1.29. The firm has a market cap of $39.80 billion, a price-to-earnings ratio of 616.14, a PEG ratio of 1.99 and a beta of 1.75. The stock’s 50-day moving average price is $223.58 and its two-hundred day moving average price is $233.91. Constellation Brands, Inc. has a 12-month low of $208.12 and a 12-month high of $261.52.

Constellation Brands (NYSE:STZ – Get Rating) last released its earnings results on Thursday, January 5th. The company reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.05). Constellation Brands had a return on equity of 19.69% and a net margin of 0.98%. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the business posted $3.12 earnings per share. Constellation Brands’s revenue was up 9.2% on a year-over-year basis. On average, research analysts forecast that Constellation Brands, Inc. will post 10.64 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.48%. Constellation Brands’s dividend payout ratio is presently 914.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. UBS Group dropped their target price on shares of Constellation Brands from $281.00 to $267.00 and set a “buy” rating for the company in a report on Friday, January 6th. Truist Financial reduced their price objective on Constellation Brands from $245.00 to $215.00 in a report on Friday, January 6th. Citigroup assumed coverage on Constellation Brands in a report on Thursday, February 16th. They issued a “buy” rating and a $265.00 target price on the stock. Barclays cut their price target on Constellation Brands from $288.00 to $278.00 and set an “overweight” rating for the company in a research note on Monday, January 9th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Constellation Brands from $267.00 to $250.00 and set an “overweight” rating on the stock in a research note on Friday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $252.76.

Constellation Brands Company Profile

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Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.