Arizona State Retirement System Reduces Position in Constellation Brands, Inc. (NYSE:STZ)

Arizona State Retirement System lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 1.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,483 shares of the company’s stock after selling 531 shares during the period. Arizona State Retirement System’s holdings in Constellation Brands were worth $10,273,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Metis Global Partners LLC raised its stake in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after acquiring an additional 46 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Constellation Brands by 1.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,205 shares of the company’s stock worth $1,084,000 after purchasing an additional 52 shares during the last quarter. KCM Investment Advisors LLC lifted its holdings in shares of Constellation Brands by 1.7% during the third quarter. KCM Investment Advisors LLC now owns 3,382 shares of the company’s stock worth $872,000 after purchasing an additional 56 shares during the period. Allworth Financial LP boosted its position in Constellation Brands by 0.8% in the fourth quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock valued at $1,626,000 after buying an additional 59 shares during the last quarter. Finally, BSW Wealth Partners increased its holdings in Constellation Brands by 4.2% in the 4th quarter. BSW Wealth Partners now owns 1,563 shares of the company’s stock worth $345,000 after buying an additional 63 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Stock Performance

NYSE:STZ opened at $179.00 on Friday. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $32.35 billion, a P/E ratio of 48.12, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The firm has a 50-day moving average price of $185.00 and a two-hundred day moving average price of $221.84. Constellation Brands, Inc. has a twelve month low of $160.46 and a twelve month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm’s revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business earned $3.19 EPS. As a group, research analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is 108.60%.

Analyst Ratings Changes

STZ has been the topic of a number of research reports. TD Cowen cut their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a research report on Thursday. Evercore ISI reduced their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating for the company in a research note on Monday, January 13th. Truist Financial lowered their target price on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $203.00 price target (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Eleven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $253.43.

Insider Buying and Selling at Constellation Brands

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 12.19% of the stock is owned by company insiders.

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.