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

State of Michigan Retirement System lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 0.7% during the fourth quarter, HoldingsChannel reports. The firm 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 SEC filing.

Several other large investors also recently made changes to their positions in the stock. SBI Securities Co. Ltd. bought a new stake in Constellation Brands during the fourth quarter worth $26,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Constellation Brands during the 4th quarter worth about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands in the 4th quarter valued at about $28,000. Versant Capital Management Inc lifted its stake in 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 purchasing an additional 142 shares during the last quarter. Finally, Centricity Wealth Management LLC bought a new position in Constellation Brands during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Evercore ISI dropped their price objective on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Piper Sandler cut Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $245.00 to $200.00 in a research note on Monday, February 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $203.00 price objective (down from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Morgan Stanley lowered shares of Constellation Brands from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $220.00 to $202.00 in a research report on Thursday, February 27th. Finally, Roth Capital cut their target price 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. Eleven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $253.43.

Constellation Brands Stock Up 0.9 %

Shares of NYSE STZ opened at $174.08 on Thursday. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The stock’s fifty day moving average is $185.90 and its 200 day moving average is $222.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market capitalization of $31.46 billion, a P/E ratio of 46.79, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last issued its earnings results on Friday, January 10th. The company reported $3.25 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%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.19 earnings per share. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Activity

In other Constellation Brands news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now directly owns 1,463 shares in the company, valued at $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 12.19% of the company’s stock.

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.