State Board of Administration of Florida Retirement System Cuts Stock Position in Constellation Brands, Inc. (NYSE:STZ)

State Board of Administration of Florida Retirement System lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 3.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,175 shares of the company’s stock after selling 6,740 shares during the period. State Board of Administration of Florida Retirement System owned about 0.09% of Constellation Brands worth $44,888,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Constellation Brands by 27.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 40,095 shares of the company’s stock valued at $10,896,000 after acquiring an additional 8,585 shares during the period. Edmond DE Rothschild Holding S.A. raised its stake in shares of Constellation Brands by 1,464.3% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 19,773 shares of the company’s stock valued at $5,374,000 after acquiring an additional 18,509 shares during the period. Bleakley Financial Group LLC raised its stake in shares of Constellation Brands by 5.7% in the 1st quarter. Bleakley Financial Group LLC now owns 2,869 shares of the company’s stock valued at $780,000 after acquiring an additional 154 shares during the period. Addison Capital Co raised its stake in shares of Constellation Brands by 3.5% in the 1st quarter. Addison Capital Co now owns 21,099 shares of the company’s stock valued at $5,734,000 after acquiring an additional 704 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Constellation Brands by 14.3% in the 1st quarter. Russell Investments Group Ltd. now owns 58,814 shares of the company’s stock valued at $15,986,000 after acquiring an additional 7,343 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the transaction, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at $706,266. The disclosure for this sale can be found here. In the last three months, insiders sold 29,214 shares of company stock valued at $7,620,551. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

STZ has been the topic of several analyst reports. HSBC lifted their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research note on Friday, July 5th. Wedbush reaffirmed an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research note on Wednesday, April 10th. Roth Mkm dropped their price target on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating on the stock in a research note on Friday, July 5th. Finally, Evercore ISI lifted their price target on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $300.11.

Constellation Brands Stock Performance

Shares of NYSE STZ traded down $2.02 during midday trading on Friday, hitting $246.24. The company’s stock had a trading volume of 179,885 shares, compared to its average volume of 1,209,335. Constellation Brands, Inc. has a 1-year low of $227.50 and a 1-year high of $274.87. The firm’s fifty day moving average price is $253.93 and its 200-day moving average price is $254.96. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The firm has a market cap of $44.87 billion, a P/E ratio of 18.50, a P/E/G ratio of 1.64 and a beta of 0.87.

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

Constellation Brands Dividend Announcement

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

About Constellation Brands

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.