Kentucky Retirement Systems Has $2.81 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Kentucky Retirement Systems decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,916 shares of the company’s stock after selling 1,216 shares during the period. Kentucky Retirement Systems’ holdings in Constellation Brands were worth $2,813,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STZ. Orion Portfolio Solutions LLC increased its holdings in Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after buying an additional 39 shares during the last quarter. Bahl & Gaynor Inc. raised its holdings in shares of Constellation Brands by 9.4% during the 1st quarter. Bahl & Gaynor Inc. now owns 5,359 shares of the company’s stock valued at $1,456,000 after purchasing an additional 459 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Constellation Brands by 21.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 7,009 shares of the company’s stock valued at $1,905,000 after purchasing an additional 1,239 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Constellation Brands by 1.1% in the first quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock worth $136,711,000 after purchasing an additional 5,302 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its position in Constellation Brands by 285.8% during the first quarter. UniSuper Management Pty Ltd now owns 5,722 shares of the company’s stock worth $1,555,000 after buying an additional 4,239 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Transactions at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James A. Jr. Sabia sold 36,086 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the sale, the executive vice president now owns 16,042 shares in the company, valued at approximately $3,898,045.58. This trade represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 189,296 shares of company stock worth $45,899,031 in the last three months. Insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 1.9 %

Shares of STZ opened at $237.51 on Monday. The stock’s fifty day simple moving average is $244.13 and its 200-day simple moving average is $248.01. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $43.12 billion, a PE ratio of 76.86, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly 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. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.70 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on STZ shares. UBS Group reduced their price target on Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research report on Monday, September 9th. Royal Bank of Canada restated an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Roth Mkm reiterated a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. Evercore ISI dropped their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, October 4th. Finally, Morgan Stanley decreased their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Constellation Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

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.