State of New Jersey Common Pension Fund D Decreases Stake in Constellation Brands, Inc. (NYSE:STZ)

State of New Jersey Common Pension Fund D cut its position in Constellation Brands, Inc. (NYSE:STZ) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,512 shares of the company’s stock after selling 173 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Constellation Brands were worth $12,931,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Philip James Wealth Mangement LLC increased its holdings in Constellation Brands by 8.0% in the fourth quarter. Philip James Wealth Mangement LLC now owns 923 shares of the company’s stock valued at $204,000 after buying an additional 68 shares during the last quarter. Blue Zone Wealth Advisors LLC lifted its holdings in Constellation Brands by 1.7% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 20,001 shares of the company’s stock worth $4,420,000 after buying an additional 335 shares during the last quarter. Copperleaf Capital LLC acquired a new position in shares of Constellation Brands during the 4th quarter worth about $343,000. Strategic Financial Concepts LLC purchased a new position in shares of Constellation Brands in the 4th quarter valued at about $236,000. Finally, Allworth Financial LP raised its position in shares of Constellation Brands by 0.8% during the 4th quarter. Allworth Financial LP now owns 7,357 shares of the company’s stock worth $1,626,000 after acquiring an additional 59 shares in the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director William T. Giles purchased 1,000 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average price 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research analyst reports. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $245.00 to $200.00 in a report on Monday, February 3rd. UBS Group lowered their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Morgan Stanley cut their price target on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Roth Capital decreased their price objective on shares of Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Ten analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Stock Down 0.3 %

Shares of NYSE:STZ opened at $162.69 on Tuesday. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $274.87. 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 50-day simple moving average is $201.35 and its 200-day simple moving average is $228.19. The company has a market cap of $29.40 billion, a price-to-earnings ratio of 43.73, a PEG ratio of 1.51 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business 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 firm posted $3.19 EPS. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, equities research 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 disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend 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.