State of Alaska Department of Revenue Sells 1,710 Shares of Constellation Brands, Inc. (NYSE:STZ)

State of Alaska Department of Revenue cut its holdings in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,456 shares of the company’s stock after selling 1,710 shares during the period. State of Alaska Department of Revenue’s holdings in Constellation Brands were worth $4,219,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in STZ. Moneta Group Investment Advisors LLC increased its position in shares of Constellation Brands by 84,839.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,742,434 shares of the company’s stock worth $867,309,000 after acquiring an additional 3,738,028 shares in the last quarter. Norges Bank bought a new stake in Constellation Brands in the 4th quarter worth about $373,796,000. Barclays PLC grew its position in Constellation Brands by 102.0% in the 2nd quarter. Barclays PLC now owns 2,937,570 shares of the company’s stock worth $723,027,000 after purchasing an additional 1,483,668 shares in the last quarter. Morgan Stanley grew its position in Constellation Brands by 31.3% in the 4th quarter. Morgan Stanley now owns 3,809,273 shares of the company’s stock worth $882,799,000 after purchasing an additional 908,486 shares in the last quarter. Finally, Darsana Capital Partners LP grew its position in Constellation Brands by 288.9% in the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock worth $219,914,000 after purchasing an additional 650,000 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

Shares of STZ stock opened at $267.47 on Wednesday. The stock has a market capitalization of $48.90 billion, a P/E ratio of 31.65, a PEG ratio of 1.89 and a beta of 0.97. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $254.01 and its 200 day moving average is $246.45. Constellation Brands, Inc. has a 12 month low of $217.05 and a 12 month high of $273.65.

Constellation Brands (NYSE:STZGet Free Report) last announced its quarterly earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.16. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.54 billion. Constellation Brands had a net margin of 14.76% and a return on equity of 23.35%. Constellation Brands’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.83 EPS. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 11.92 earnings per share for the current year.

Constellation Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were issued a dividend of $0.89 per share. This represents a $3.56 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Wednesday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 42.13%.

Analyst Ratings Changes

A number of brokerages have issued reports on STZ. Piper Sandler began coverage on shares of Constellation Brands in a research report on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective for the company. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. JPMorgan Chase & Co. reduced their price objective on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $295.00 price objective on shares of Constellation Brands in a research report on Thursday, March 7th. Finally, Argus cut shares of Constellation Brands from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $290.37.

Read Our Latest Stock Report on STZ

Insider Buying and Selling

In related news, major shareholder Family Foundation Sands sold 354,616 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $250.26, for a total transaction of $88,746,200.16. Following the sale, the insider now owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 16.19% of the stock is currently owned by insiders.

Constellation Brands Company Profile

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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