Kentucky Retirement Systems Insurance Trust Fund Purchases 1,261 Shares of Constellation Brands, Inc. (NYSE:STZ)

Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,900 shares of the company’s stock after purchasing an additional 1,261 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Constellation Brands were worth $1,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Constellation Brands by 1,844.7% during the fourth quarter. Van ECK Associates Corp now owns 924,274 shares of the company’s stock valued at $204,265,000 after purchasing an additional 876,745 shares during the period. Grimes & Company Inc. bought a new position in Constellation Brands during the fourth quarter valued at $6,099,000. Copperleaf Capital LLC bought a new position in Constellation Brands during the fourth quarter valued at $343,000. Empowered Funds LLC lifted its position in shares of Constellation Brands by 62.8% during the fourth quarter. Empowered Funds LLC now owns 16,575 shares of the company’s stock worth $3,663,000 after acquiring an additional 6,391 shares in the last quarter. Finally, Southern Style Financial Inc. purchased a new stake in shares of Constellation Brands during the fourth quarter worth $3,074,000. 77.34% of the stock is owned by institutional investors.

Insider Activity

In related news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The shares were purchased at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.19% of the company’s stock.

Wall Street Analysts Forecast Growth

STZ has been the topic of several recent research reports. UBS Group dropped their target price on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Roth Capital dropped their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Piper Sandler downgraded Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $245.00 to $200.00 in a research report on Monday, February 3rd. Wells Fargo & Company dropped their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, TD Cowen dropped their target price on Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Moderate Buy” and an average target price of $254.29.

Constellation Brands Stock Up 3.8 %

STZ opened at $169.11 on Wednesday. The stock has a market cap of $30.56 billion, a PE ratio of 45.46, a P/E/G ratio of 1.51 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. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The business’s fifty day simple moving average is $198.25 and its 200 day simple moving average is $227.06.

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

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.39%. Constellation Brands’s dividend payout ratio (DPR) is currently 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.