Public Employees Retirement System of Ohio Sells 6,240 Shares of Constellation Brands, Inc. (NYSE:STZ)

Public Employees Retirement System of Ohio trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 7.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,744 shares of the company’s stock after selling 6,240 shares during the period. Public Employees Retirement System of Ohio’s holdings in Constellation Brands were worth $20,584,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Steel Grove Capital Advisors LLC bought a new stake in Constellation Brands during the first quarter valued at about $222,000. Epoch Investment Partners Inc. boosted its holdings in Constellation Brands by 23.3% during the first quarter. Epoch Investment Partners Inc. now owns 311,608 shares of the company’s stock valued at $84,683,000 after acquiring an additional 58,788 shares during the period. LRI Investments LLC bought a new stake in Constellation Brands during the first quarter valued at about $195,000. Stonebridge Capital Advisors LLC boosted its holdings in Constellation Brands by 6.8% during the first quarter. Stonebridge Capital Advisors LLC now owns 33,808 shares of the company’s stock valued at $9,188,000 after acquiring an additional 2,167 shares during the period. Finally, Canada Pension Plan Investment Board raised its position in shares of Constellation Brands by 12.3% during the first quarter. Canada Pension Plan Investment Board now owns 334,831 shares of the company’s stock valued at $90,994,000 after buying an additional 36,701 shares during the last quarter. 77.34% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now directly owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at $442,270.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the transaction, the chief executive officer now directly owns 14,700 shares in the company, valued at $3,844,638. The disclosure for this sale can be found here. Insiders have sold 29,214 shares of company stock valued at $7,620,551 over the last three months. 12.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on STZ shares. Wedbush reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a research report on Wednesday, April 10th. Truist Financial reaffirmed a “hold” rating and set a $265.00 price objective on shares of Constellation Brands in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price objective on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a research report on Friday, July 5th. Barclays upped their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Evercore ISI upped their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $300.28.

Constellation Brands Stock Performance

NYSE STZ opened at $246.17 on Tuesday. The firm has a market cap of $44.86 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 1.67 and a beta of 0.87. The company has a 50 day moving average of $252.77 and a 200-day moving average of $255.01. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $3.46 by $0.11. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $2.91 earnings per share. On average, equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be paid a dividend of $1.01 per share. The ex-dividend date is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.64%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

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.