Public Employees Retirement System of Ohio Sells 578 Shares of Constellation Brands, Inc. (NYSE:STZ)

Public Employees Retirement System of Ohio lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,050 shares of the company’s stock after selling 578 shares during the period. Public Employees Retirement System of Ohio’s holdings in Constellation Brands were worth $18,309,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of STZ. New Millennium Group LLC bought a new stake in shares of Constellation Brands during the 2nd quarter valued at $25,000. Horizon Bancorp Inc. IN purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $32,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Constellation Brands in the 2nd quarter worth about $36,000. Wellington Shields & Co. LLC raised its position in shares of Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Constellation Brands in the 3rd quarter worth about $39,000. Institutional investors own 77.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STZ. Needham & Company LLC began coverage on Constellation Brands in a research report on Friday, December 6th. They issued a “buy” rating and a $280.00 price target for the company. Morgan Stanley decreased their target price on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Roth Mkm reissued a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research report on Friday, October 4th. Finally, Barclays decreased their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands currently has a consensus rating of “Moderate Buy” and an average price target of $288.70.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock worth $46,058,091 over the last quarter. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 0.7 %

STZ stock opened at $242.60 on Wednesday. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The company has a market capitalization of $44.05 billion, a price-to-earnings ratio of 78.51, a PEG ratio of 1.69 and a beta of 1.75. The business has a 50 day simple moving average of $239.83 and a two-hundred day simple moving average of $246.21.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the firm posted $3.70 EPS. Constellation Brands’s quarterly revenue was up 2.9% compared to the same quarter last year. Research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.67%. Constellation Brands’s payout ratio is 130.74%.

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.