California State Teachers Retirement System Sells 10,617 Shares of Constellation Brands, Inc. (NYSE:STZ)

California State Teachers Retirement System lessened its holdings in Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 271,164 shares of the company’s stock after selling 10,617 shares during the quarter. California State Teachers Retirement System owned approximately 0.15% of Constellation Brands worth $62,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Guardian Wealth Advisors LLC bought a new position in shares of Constellation Brands in the third quarter worth about $37,000. BOK Financial Private Wealth Inc. purchased a new position in shares of Constellation Brands during the third quarter worth approximately $45,000. Jones Financial Companies Lllp raised its stake in shares of Constellation Brands by 133.3% during the third quarter. Jones Financial Companies Lllp now owns 203 shares of the company’s stock valued at $47,000 after acquiring an additional 116 shares in the last quarter. Western Pacific Wealth Management LP purchased a new stake in shares of Constellation Brands in the third quarter valued at approximately $57,000. Finally, Insight Inv LLC bought a new position in Constellation Brands in the second quarter worth approximately $58,000. Hedge funds and other institutional investors own 84.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $267.00 to $250.00 and set an “overweight” rating for the company in a research report on Friday, January 6th. Argus dropped their target price on shares of Constellation Brands from $295.00 to $250.00 in a report on Friday, January 6th. Wells Fargo & Company boosted their price target on shares of Constellation Brands from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, January 26th. Cowen downgraded shares of Constellation Brands from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $275.00 to $200.00 in a research note on Friday, January 6th. Finally, Truist Financial reduced their price objective on shares of Constellation Brands from $245.00 to $215.00 in a research note on Friday, January 6th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.76.

Constellation Brands Stock Performance

STZ opened at $215.65 on Friday. The company has a market cap of $39.80 billion, a P/E ratio of 616.14, a price-to-earnings-growth ratio of 1.99 and a beta of 1.75. The company has a quick ratio of 0.63, a current ratio of 1.29 and a debt-to-equity ratio of 1.29. The firm’s 50-day moving average price is $223.58 and its 200-day moving average price is $233.91. Constellation Brands, Inc. has a 52-week low of $208.12 and a 52-week 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 for the quarter, missing the consensus estimate of $2.88 by ($0.05). The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Constellation Brands had a return on equity of 19.69% and a net margin of 0.98%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.12 EPS. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 10.64 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

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

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.