New York State Common Retirement Fund Sells 20,118 Shares of Constellation Brands, Inc. (NYSE:STZ)

New York State Common Retirement Fund lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 8.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 210,294 shares of the company’s stock after selling 20,118 shares during the period. New York State Common Retirement Fund’s holdings in Constellation Brands were worth $50,839,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Morgan Stanley grew its position in Constellation Brands by 1.5% in the third quarter. Morgan Stanley now owns 4,050,468 shares of the company’s stock valued at $1,018,005,000 after acquiring an additional 58,518 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Constellation Brands by 3.7% during the third quarter. Northern Trust Corp now owns 1,499,035 shares of the company’s stock valued at $376,752,000 after purchasing an additional 53,862 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Constellation Brands by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,015,105 shares of the company’s stock valued at $255,126,000 after purchasing an additional 85,330 shares in the last quarter. Darsana Capital Partners LP boosted its stake in shares of Constellation Brands by 288.9% during the third quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after purchasing an additional 650,000 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Constellation Brands by 9.9% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 800,686 shares of the company’s stock valued at $201,236,000 after purchasing an additional 71,979 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO William A. Newlands sold 4,013 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $263.25, for a total transaction of $1,056,422.25. Following the transaction, the chief executive officer now owns 5,395 shares of the company’s stock, valued at approximately $1,420,233.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total value of $4,160,345.03. Following the transaction, the executive vice president now directly owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders own 16.19% of the company’s stock.

Constellation Brands Trading Up 0.7 %

NYSE STZ opened at $261.64 on Wednesday. The company has a market cap of $47.83 billion, a price-to-earnings ratio of 27.89, a P/E/G ratio of 1.75 and a beta of 0.97. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The business has a 50 day moving average price of $258.78 and a 200-day moving average price of $247.57. The company has a quick ratio of 0.53, a current ratio of 1.19 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, April 11th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company posted $1.98 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.51 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, May 3rd will be given a $1.01 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 annualized dividend and a yield of 1.54%. This is a boost from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s payout ratio is currently 37.95%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Constellation Brands from $292.00 to $314.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Royal Bank of Canada lifted their price target on Constellation Brands from $295.00 to $308.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Roth Mkm reaffirmed a “buy” rating and issued a $305.00 price objective on shares of Constellation Brands in a research note on Friday, April 12th. Piper Sandler assumed coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price objective on the stock. Finally, TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a research note on Friday, January 5th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $298.55.

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.