Maryland State Retirement & Pension System Has $1.03 Million Stake in Constellation Brands Inc $STZ

Maryland State Retirement & Pension System decreased its position in shares of Constellation Brands Inc (NYSE:STZ) by 14.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,351 shares of the company’s stock after selling 1,098 shares during the period. Maryland State Retirement & Pension System’s holdings in Constellation Brands were worth $1,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of STZ. Rakuten Securities Inc. increased its holdings in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock worth $33,000 after buying an additional 161 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $38,000. Flaharty Asset Management LLC acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $39,000. Hoey Investments Inc. acquired a new stake in shares of Constellation Brands during the second quarter worth approximately $40,000. Finally, WPG Advisers LLC acquired a new stake in shares of Constellation Brands during the first quarter worth approximately $43,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on STZ. Cowen reaffirmed a “hold” rating on shares of Constellation Brands in a report on Monday, July 7th. Jefferies Financial Group lowered their price target on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. Bank of America lowered their price target on shares of Constellation Brands from $150.00 to $142.00 and set an “underperform” rating for the company in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company lowered their price target on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $186.44.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company’s stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.45% of the company’s stock.

Constellation Brands Price Performance

Shares of STZ stock opened at $141.42 on Monday. Constellation Brands Inc has a 52-week low of $131.20 and a 52-week high of $247.63. The stock has a market cap of $24.93 billion, a PE ratio of 20.65, a PEG ratio of 0.42 and a beta of 0.66. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The firm’s 50 day moving average price is $150.78 and its two-hundred day moving average price is $167.96.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The firm had revenue of $2.32 billion for the quarter. As a group, analysts forecast that Constellation Brands Inc will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

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.