Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 44.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,435 shares of the company's stock after purchasing an additional 22,738 shares during the period. State of Tennessee Department of Treasury's holdings in Constellation Brands were worth $16,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. World Investment Advisors LLC increased 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 worth $657,000 after buying an additional 683 shares in the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Constellation Brands during the third quarter valued at $243,000. Wilmington Savings Fund Society FSB increased its position in 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 in the last quarter. Oddo BHF Asset Management Sas acquired a new position in Constellation Brands in the 3rd quarter valued at about $223,000. Finally, Copley Financial Group Inc. acquired a new position in Constellation Brands in the 3rd quarter valued at about $455,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Roth Capital decreased their price objective on Constellation Brands from $298.00 to $284.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Truist Financial dropped their target price on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. BMO Capital Markets decreased their price target on Constellation Brands from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Friday, April 11th. Finally, Citigroup lowered their price target on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating for the company in a report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $224.42.

Constellation Brands Trading Down 0.1 %

Constellation Brands stock opened at $187.00 on Wednesday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The firm has a market capitalization of $33.80 billion, a PE ratio of 50.27, a PEG ratio of 1.52 and a beta of 1.75. The business's 50-day simple moving average is $179.57 and its 200-day simple moving average is $205.74.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.35. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. During the same period last year, the business posted $2.26 EPS. The business's quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.18%. This is a boost from Constellation Brands's previous quarterly dividend of $1.01. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's dividend payout ratio is -800.00%.

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.

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