Maryland State Retirement & Pension System Sells 585 Shares of Constellation Brands, Inc. (NYSE:STZ)

Maryland State Retirement & Pension System trimmed its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,508 shares of the company’s stock after selling 585 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Constellation Brands were worth $1,880,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC bought a new stake in Constellation Brands during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Constellation Brands during the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the fourth quarter valued at approximately $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the fourth quarter valued at approximately $28,000. Finally, Versant Capital Management Inc grew its position in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of the company’s stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on STZ shares. BNP Paribas started coverage on shares of Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target for the company. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price target on shares of Constellation Brands in a research report on Monday, January 27th. StockNews.com lowered shares of Constellation Brands from a “hold” rating to a “sell” rating in a research report on Friday, March 14th. Finally, Wells Fargo & Company dropped their price target on shares of Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $250.41.

Constellation Brands Price Performance

Constellation Brands stock opened at $177.73 on Friday. Constellation Brands, Inc. has a 52-week low of $160.46 and a 52-week high of $274.87. The company has a market cap of $32.12 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.52 and a beta of 1.75. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The firm’s fifty day moving average is $177.32 and its 200 day moving average is $217.28.

Constellation Brands (NYSE:STZ) last announced its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the prior year, the company posted $3.19 EPS. The company’s revenue was down .3% compared to the same quarter last year. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, February 7th. Constellation Brands’s payout ratio is presently 108.60%.

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.