Public Employees Retirement System of Ohio Sells 578 Shares of Constellation Brands, Inc. (NYSE:STZ)

Public Employees Retirement System of Ohio lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,050 shares of the company’s stock after selling 578 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Constellation Brands were worth $18,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oakworth Capital Inc. boosted its position in Constellation Brands by 4.4% during the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock worth $255,000 after purchasing an additional 42 shares during the period. PFG Investments LLC boosted its position in Constellation Brands by 3.8% during the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock worth $296,000 after purchasing an additional 42 shares during the period. Brighton Jones LLC boosted its position in Constellation Brands by 4.7% during the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock worth $244,000 after purchasing an additional 43 shares during the period. Metis Global Partners LLC boosted its position in Constellation Brands by 0.8% during the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock worth $1,435,000 after purchasing an additional 46 shares during the period. Finally, Umpqua Bank boosted its position in Constellation Brands by 4.6% during the second quarter. Umpqua Bank now owns 1,124 shares of the company’s stock worth $289,000 after purchasing an additional 49 shares during the period. Institutional investors own 77.34% of the company’s stock.

Analysts Set New Price Targets

STZ has been the subject of a number of research reports. Truist Financial cut their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Wells Fargo & Company cut their price objective on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a research report on Tuesday, November 26th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 price objective on shares of Constellation Brands in a research report on Tuesday, November 19th. Roth Mkm restated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research report on Friday, October 4th. Finally, BMO Capital Markets cut their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $288.70.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last three months. 12.19% of the stock is owned by company insiders.

Constellation Brands Trading Down 0.7 %

STZ stock opened at $242.60 on Wednesday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The company’s 50 day moving average price is $239.83 and its two-hundred day moving average price is $246.21. The company has a market capitalization of $44.05 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the firm earned $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s payout ratio is 130.74%.

Constellation Brands 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.