New York State Teachers Retirement System Sells 4,184 Shares of Constellation Brands, Inc. (NYSE:STZ)

New York State Teachers Retirement System reduced its position in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 3.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 120,394 shares of the company's stock after selling 4,184 shares during the period. New York State Teachers Retirement System owned 0.07% of Constellation Brands worth $26,607,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands in the 4th quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands in the 4th quarter valued at about $28,000. Versant Capital Management Inc raised its stake in Constellation Brands by 887.5% in the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company's stock valued at $35,000 after acquiring an additional 142 shares during the period. Eastern Bank purchased a new position in Constellation Brands during the 3rd quarter valued at about $39,000. Finally, FSA Wealth Management LLC purchased a new position in Constellation Brands during the 3rd quarter valued at about $42,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Price Performance

STZ traded up $3.09 during midday trading on Wednesday, hitting $172.47. The stock had a trading volume of 3,203,409 shares, compared to its average volume of 2,850,821. The company has a market cap of $31.17 billion, a P/E ratio of 46.36, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The business has a fifty day moving average of $198.25 and a 200 day moving average of $227.06. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. Constellation Brands, Inc. has a 1 year low of $160.46 and a 1 year high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.19 EPS. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.34%. Constellation Brands's payout ratio is currently 108.60%.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the stock in a transaction on Friday, January 17th. The stock was purchased at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the transaction, the director now owns 1,463 shares of the company's stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on STZ shares. Truist Financial reduced their target price on Constellation Brands from $255.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $203.00 target price (down previously from $262.00) on shares of Constellation Brands in a report on Monday, January 13th. TD Cowen reduced their target price on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group reaffirmed a "hold" rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a report on Monday, January 13th. Finally, Morgan Stanley reduced their target price on Constellation Brands from $280.00 to $220.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has a consensus rating of "Moderate Buy" and an average target price of $254.29.

Constellation Brands Company Profile

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.