California Public Employees Retirement System grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 391,357 shares of the company’s stock after buying an additional 24,144 shares during the period. California Public Employees Retirement System’s holdings in Constellation Brands were worth $89,452,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the business. Community Bank N.A. boosted its position in Constellation Brands by 22.9% during the fourth quarter. Community Bank N.A. now owns 1,598 shares of the company’s stock worth $365,000 after purchasing an additional 298 shares during the period. Goelzer Investment Management Inc. boosted its position in Constellation Brands by 6.0% during the fourth quarter. Goelzer Investment Management Inc. now owns 12,140 shares of the company’s stock worth $2,775,000 after purchasing an additional 690 shares during the period. Bridgecreek Investment Management LLC boosted its position in Constellation Brands by 0.8% during the fourth quarter. Bridgecreek Investment Management LLC now owns 39,675 shares of the company’s stock worth $9,069,000 after purchasing an additional 329 shares during the period. Teacher Retirement System of Texas boosted its position in Constellation Brands by 5.9% during the fourth quarter. Teacher Retirement System of Texas now owns 92,597 shares of the company’s stock worth $21,165,000 after purchasing an additional 5,153 shares during the period. Finally, ING Groep NV bought a new position in Constellation Brands during the fourth quarter worth about $1,338,000. Hedge funds and other institutional investors own 75.45% of the company’s stock.

A number of equities analysts have weighed in on the stock. Evercore ISI increased their target price on shares of Constellation Brands from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, January 5th. Vetr upgraded shares of Constellation Brands from a “buy” rating to a “strong-buy” rating and set a $238.15 price objective for the company in a research report on Monday. SunTrust Banks restated a “buy” rating and issued a $250.00 price objective (up from $230.00) on shares of Constellation Brands in a research report on Monday, January 8th. Royal Bank of Canada restated a “buy” rating and issued a $226.00 price objective on shares of Constellation Brands in a research report on Sunday, November 12th. Finally, Zacks Investment Research upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $249.00 price objective for the company in a research report on Monday, December 18th. Five analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $237.77.

In other Constellation Brands news, Director Barry A. Fromberg sold 2,005 shares of Constellation Brands stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $220.42, for a total transaction of $441,942.10. Following the transaction, the director now directly owns 20,790 shares of the company’s stock, valued at $4,582,531.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.59% of the company’s stock.

Constellation Brands, Inc. (NYSE:STZ) opened at $210.26 on Friday. The company has a market cap of $41,130.00, a P/E ratio of 25.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.11. Constellation Brands, Inc. has a one year low of $153.28 and a one year high of $229.50. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.54 and a current ratio of 1.40.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 5th. The company reported $2.00 EPS for the quarter, topping the consensus estimate of $1.87 by $0.13. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.87 billion. Constellation Brands had a net margin of 22.55% and a return on equity of 22.04%. During the same period last year, the firm posted $1.96 earnings per share. sell-side analysts predict that Constellation Brands, Inc. will post 8.53 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, February 8th. Constellation Brands’s dividend payout ratio (DPR) is presently 25.27%.

Constellation Brands declared that its board has approved a stock repurchase program on Friday, January 5th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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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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