Texas Permanent School Fund Corp Decreases Stock Holdings in Constellation Brands Inc $STZ

Texas Permanent School Fund Corp lowered its stake in Constellation Brands Inc (NYSE:STZ) by 21.8% during the second quarter, Holdings Channel.com reports. The fund owned 18,810 shares of the company’s stock after selling 5,254 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Constellation Brands were worth $3,060,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in STZ. Gilbert & Cook Inc. increased its stake in shares of Constellation Brands by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 2,385 shares of the company’s stock worth $388,000 after purchasing an additional 60 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Constellation Brands by 3.8% in the 2nd quarter. V Square Quantitative Management LLC now owns 1,682 shares of the company’s stock worth $274,000 after buying an additional 62 shares during the last quarter. Oak Asset Management LLC increased its stake in Constellation Brands by 0.4% during the 2nd quarter. Oak Asset Management LLC now owns 18,281 shares of the company’s stock worth $2,974,000 after buying an additional 70 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Constellation Brands by 9.9% during the first quarter. Geneos Wealth Management Inc. now owns 813 shares of the company’s stock valued at $149,000 after acquiring an additional 73 shares during the last quarter. Finally, RNC Capital Management LLC lifted its position in shares of Constellation Brands by 0.6% in the second quarter. RNC Capital Management LLC now owns 13,561 shares of the company’s stock valued at $2,206,000 after acquiring an additional 77 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of STZ stock opened at $134.96 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The company has a market capitalization of $23.62 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 0.41 and a beta of 0.46. The firm’s 50-day moving average is $136.23 and its two-hundred day moving average is $151.24. Constellation Brands Inc has a 12 month low of $126.45 and a 12 month high of $229.07.

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

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th were given a $1.02 dividend. The ex-dividend date was Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 3.0%. Constellation Brands’s payout ratio is currently 59.56%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STZ. Zacks Research upgraded Constellation Brands from a “strong sell” rating to a “hold” rating in a research report on Monday, November 3rd. BNP Paribas cut shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 3rd. Piper Sandler reduced their target price on shares of Constellation Brands from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. BMO Capital Markets decreased their price target on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Finally, BNP Paribas Exane cut shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price objective for the company. in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $181.96.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on?premise and foodservice channels and supports its brands with national sales and marketing platforms and supply?chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.