Public Employees Retirement Association of Colorado Sells 26,534 Shares of Constellation Brands, Inc. (NYSE:STZ)

Public Employees Retirement Association of Colorado decreased its position in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 52.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,403 shares of the company’s stock after selling 26,534 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Constellation Brands were worth $5,899,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in Constellation Brands by 18.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 9,953 shares of the company’s stock worth $2,406,000 after buying an additional 1,542 shares during the period. Bedell Frazier Investment Counselling LLC boosted its stake in shares of Constellation Brands by 1.4% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 19,702 shares of the company’s stock worth $4,763,000 after acquiring an additional 279 shares during the period. Morningstar Investment Management LLC grew its position in shares of Constellation Brands by 2.5% during the fourth quarter. Morningstar Investment Management LLC now owns 2,639 shares of the company’s stock worth $638,000 after purchasing an additional 65 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Constellation Brands by 2.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 5,256 shares of the company’s stock valued at $1,271,000 after purchasing an additional 121 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Constellation Brands by 64.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 19,339 shares of the company’s stock valued at $4,675,000 after purchasing an additional 7,589 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $263.25, for a total value of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares in the company, valued at $1,420,233.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Constellation Brands news, CEO William A. Newlands sold 4,013 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the completion of the transaction, the chief executive officer now directly owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,031 shares of company stock worth $12,582,321. 16.19% of the stock is currently owned by insiders.

Constellation Brands Stock Performance

Shares of STZ opened at $250.93 on Friday. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The stock has a fifty day moving average price of $256.69 and a 200-day moving average price of $251.39. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market cap of $45.92 billion, a PE ratio of 26.75, a P/E/G ratio of 1.69 and a beta of 0.89.

Constellation Brands (NYSE:STZGet Free Report) last issued its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the previous year, the firm earned $1.98 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that Constellation Brands, Inc. will post 13.54 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 3rd were paid a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.61%. Constellation Brands’s dividend payout ratio (DPR) is 43.07%.

Analysts Set New Price Targets

Several research firms have recently commented on STZ. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Constellation Brands in a report on Wednesday, April 10th. Evercore ISI boosted their target price on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a report on Wednesday, April 10th. Piper Sandler assumed coverage on Constellation Brands in a report on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective on the stock. Finally, Jefferies Financial Group boosted their price target on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $298.20.

Read Our Latest Research Report on STZ

About Constellation Brands

(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 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.

See Also

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

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