Municipal Employees Retirement System of Michigan held its position in shares of Constellation Brands Inc (NYSE:STZ) during the second quarter, Holdings Channel reports. The fund owned 5,730 shares of the company’s stock at the end of the second quarter. Municipal Employees Retirement System of Michigan’s holdings in Constellation Brands were worth $1,110,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Constellation Brands by 3,310.4% in the first quarter. BlackRock Inc. now owns 11,605,235 shares of the company’s stock worth $1,880,863,000 after buying an additional 11,264,949 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $132,686,000. Marshall Wace North America L.P. acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $132,686,000. OZ Management LP acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $121,982,000. Finally, Alliancebernstein L.P. raised its stake in shares of Constellation Brands by 203.6% in the first quarter. Alliancebernstein L.P. now owns 894,745 shares of the company’s stock worth $145,011,000 after buying an additional 600,001 shares in the last quarter. 76.14% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Inc (STZ) opened at 194.69 on Friday. The firm has a market capitalization of $38.02 billion, a P/E ratio of 24.42 and a beta of 0.06. Constellation Brands Inc has a 12-month low of $144.00 and a 12-month high of $199.89. The firm has a 50 day moving average of $193.29 and a 200 day moving average of $174.15.

Constellation Brands (NYSE:STZ) last released its 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 company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Constellation Brands had a return on equity of 21.57% and a net margin of 19.94%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.54 EPS. On average, analysts forecast that Constellation Brands Inc will post $8.17 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Monday, August 7th. Constellation Brands’s payout ratio is 26.03%.

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A number of analysts have recently commented on STZ shares. Vetr lowered shares of Constellation Brands from a “hold” rating to a “sell” rating and set a $175.98 price objective on the stock. in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $207.00 price objective on the stock in a research report on Thursday, June 22nd. Argus boosted their price objective on shares of Constellation Brands from $194.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) raised shares of Constellation Brands from a “buy” rating to a “conviction-buy” rating and cut their price objective for the stock from $200.00 to $168.95 in a research report on Monday, April 17th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $215.00 target price (up from $205.00) on shares of Constellation Brands in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $200.53.

In other news, VP Thomas J. Mullin sold 54,834 shares of Constellation Brands stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $194.50, for a total transaction of $10,665,213.00. Following the sale, the vice president now directly owns 86,005 shares in the company, valued at approximately $16,727,972.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher Stenzel sold 5,000 shares of Constellation Brands stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $196.75, for a total value of $983,750.00. Following the sale, the executive vice president now owns 39,721 shares in the company, valued at $7,815,106.75. The disclosure for this sale can be found here. Insiders have sold a total of 95,601 shares of company stock worth $18,586,986 over the last quarter. Company insiders own 15.59% of the company’s stock.

About Constellation Brands

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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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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