State of Michigan Retirement System Has $9.36 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

State of Michigan Retirement System lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,358 shares of the company’s stock after selling 300 shares during the quarter. State of Michigan Retirement System’s holdings in Constellation Brands were worth $9,361,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the fourth quarter valued at approximately $26,000. Compagnie Lombard Odier SCmA acquired a new position in Constellation Brands during the 4th quarter worth $27,000. Union Bancaire Privee UBP SA bought a new position in Constellation Brands in the 4th quarter valued at $28,000. Versant Capital Management Inc increased its stake in shares of Constellation Brands by 887.5% in the 4th 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. Finally, Centricity Wealth Management LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth $35,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Up 0.9 %

Shares of STZ stock opened at $174.08 on Thursday. The company has a market capitalization of $31.46 billion, a price-to-earnings ratio of 46.79, a P/E/G ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $160.46 and a 12-month high of $274.87. The firm has a fifty day moving average of $185.90 and a 200-day moving average of $222.14. 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 (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $3.19 EPS. As a group, equities research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is currently 108.60%.

Insider Transactions at Constellation Brands

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Truist Financial decreased their price target on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. Barclays lowered their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a research report on Tuesday, January 14th. Evercore ISI cut their price objective on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a report on Monday, January 13th. TD Cowen lowered their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $220.00 to $202.00 in a research note on Thursday, February 27th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $253.43.

Constellation Brands Company 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.