Retirement Systems of Alabama Sells 87,155 Shares of Constellation Brands Inc (STZ)
Retirement Systems of Alabama lowered its stake in Constellation Brands Inc (NYSE:STZ) by 27.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 230,127 shares of the company’s stock after selling 87,155 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Constellation Brands worth $44,583,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of STZ. Winslow Evans & Crocker Inc. increased its stake in shares of Constellation Brands by 19.2% in the first quarter. Winslow Evans & Crocker Inc. now owns 5,694 shares of the company’s stock valued at $923,000 after buying an additional 916 shares during the period. Honkamp Krueger Financial Services Inc. increased its stake in shares of Constellation Brands by 1.9% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 10,494 shares of the company’s stock valued at $1,701,000 after buying an additional 196 shares during the period. Daiwa SB Investments Ltd. bought a new stake in shares of Constellation Brands during the first quarter valued at $545,000. Legacy Private Trust Co. increased its stake in shares of Constellation Brands by 1.5% in the first quarter. Legacy Private Trust Co. now owns 69,910 shares of the company’s stock valued at $11,330,000 after buying an additional 1,022 shares during the period. Finally, Univest Corp of Pennsylvania bought a new stake in shares of Constellation Brands during the first quarter valued at $2,385,000. Institutional investors own 75.88% of the company’s stock.
Shares of Constellation Brands Inc (NYSE STZ) opened at 193.82 on Friday. Constellation Brands Inc has a 12 month low of $144.00 and a 12 month high of $199.89. The firm has a market capitalization of $37.85 billion, a PE ratio of 24.31 and a beta of 0.06. The company has a 50 day moving average price of $190.79 and a 200-day moving average price of $172.44.
Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, June 29th. The company reported $2.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.36. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $1.54 earnings per share. Equities research analysts expect that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $2.08 dividend on an annualized basis and a yield of 1.07%. Constellation Brands’s dividend payout ratio (DPR) is 26.03%.
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Several brokerages have weighed in on STZ. Wells Fargo & Company restated an “outperform” rating and set a $216.00 price target (up previously from $215.00) on shares of Constellation Brands in a report on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) downgraded Constellation Brands from a “buy” rating to a “neutral” rating and cut their price target for the stock from $212.00 to $210.00 in a report on Monday, July 24th. BidaskClub upgraded Constellation Brands from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $220.00 price target on shares of Constellation Brands in a report on Wednesday. Finally, Morgan Stanley restated an “overweight” rating and set a $218.00 price target on shares of Constellation Brands in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Constellation Brands presently has a consensus rating of “Buy” and a consensus target price of $200.53.
In related news, EVP Christopher Stenzel sold 5,000 shares of Constellation Brands stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total value of $983,750.00. Following the completion of the transaction, the executive vice president now directly owns 39,721 shares in the company, valued at $7,815,106.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total value of $10,665,213.00. Following the completion of the transaction, the vice president now owns 86,005 shares of the company’s stock, valued at $16,727,972.50. The disclosure for this sale can be found here. Insiders sold 95,601 shares of company stock valued at $18,586,986 over the last quarter. Insiders own 15.59% of the company’s stock.
Constellation Brands Company Profile
Constellation Brands, Inc is an international beverage alcohol company. The Company is a producer and marketer of beer, wine and spirits with operations in the United States, Canada, Mexico, New Zealand and Italy. Its segments include Beer, Wine and Spirits, and Corporate Operations and Other. It is a multi-category supplier (beer, wine and spirits) of beverage alcohol in the United States.
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