Teachers Retirement System of The State of Kentucky reduced its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 9.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,608 shares of the company's stock after selling 4,318 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Constellation Brands were worth $10,722,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Oakworth Capital Inc. raised its holdings in Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company's stock valued at $255,000 after buying an additional 42 shares during the period. PFG Investments LLC raised its holdings in Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company's stock valued at $296,000 after buying an additional 42 shares during the period. Brighton Jones LLC raised its holdings in Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company's stock valued at $244,000 after buying an additional 43 shares during the period. Metis Global Partners LLC raised its holdings in Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company's stock valued at $1,435,000 after buying an additional 46 shares during the period. Finally, Umpqua Bank raised its holdings in Constellation Brands by 4.6% in the second quarter. Umpqua Bank now owns 1,124 shares of the company's stock valued at $289,000 after buying an additional 49 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Constellation Brands
In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the sale, the insider now directly owns 1,736,884 shares in the company, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm's stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by insiders.
Constellation Brands Stock Performance
Constellation Brands stock traded down $0.45 during mid-day trading on Thursday, reaching $239.44. The company's stock had a trading volume of 1,214,750 shares, compared to its average volume of 1,209,848. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 77.62, a PEG ratio of 1.69 and a beta of 1.75. The business has a 50 day moving average price of $239.22 and a 200-day moving average price of $246.12. 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 twelve month low of $224.76 and a twelve month high of $274.87.
Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.70 earnings per share. Sell-side analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.
Constellation Brands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's payout ratio is 130.74%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Barclays cut their price target on shares of Constellation Brands from $309.00 to $300.00 and set an "overweight" rating on the stock in a report on Monday, October 7th. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and lowered their price objective for the company from $300.00 to $270.00 in a research report on Tuesday, October 8th. Wells Fargo & Company lowered their price objective 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. Roth Mkm reaffirmed a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Evercore ISI lowered their price objective on shares of Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, October 4th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $288.70.
Check Out Our Latest Stock Analysis on Constellation Brands
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.
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