Retirement Systems of Alabama Sells 105,663 Shares of Constellation Brands, Inc. (NYSE:STZ)

Retirement Systems of Alabama lessened its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 75.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,631 shares of the company's stock after selling 105,663 shares during the quarter. Retirement Systems of Alabama's holdings in Constellation Brands were worth $8,924,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. New Millennium Group LLC acquired a new stake in shares of Constellation Brands in the second quarter worth $25,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the 2nd quarter worth approximately $32,000. Ashton Thomas Private Wealth LLC purchased a new position in Constellation Brands in the 2nd quarter worth approximately $36,000. Wellington Shields & Co. LLC grew its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company's stock valued at $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Constellation Brands during the third quarter valued at approximately $39,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

STZ stock traded up $0.17 on Tuesday, hitting $233.09. 2,398,249 shares of the company's stock traded hands, compared to its average volume of 1,216,734. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The stock has a market cap of $42.32 billion, a price-to-earnings ratio of 75.38, a P/E/G ratio of 1.69 and a beta of 1.75. The stock has a fifty day moving average of $238.79 and a 200-day moving average of $245.94.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date was Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.73%. Constellation Brands's payout ratio is 130.74%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on STZ shares. Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a report on Friday, October 4th. UBS Group dropped their price objective on Constellation Brands from $320.00 to $295.00 and set a "buy" rating on the stock in a report on Monday, September 9th. Royal Bank of Canada reissued an "outperform" rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday, November 19th. Barclays reduced their price objective on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a research note on Monday, October 7th. Finally, Wells Fargo & Company dropped their target price on shares of Constellation Brands from $300.00 to $295.00 and set an "overweight" rating for the company in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $288.70.

Insider Activity

In other news, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at $418,589,044. The trade was a 0.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 189,956 shares of company stock valued at $46,058,091. Insiders own 12.19% of the company's stock.

Constellation Brands 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.