Teachers Retirement System of The State of Kentucky purchased a new position in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 58,434 shares of the company’s stock, valued at approximately $13,422,000.
Other institutional investors also recently made changes to their positions in the company. Guardian Wealth Advisors LLC acquired a new position in shares of Constellation Brands during the 3rd quarter valued at $37,000. BOK Financial Private Wealth Inc. bought a new position in Constellation Brands during the third quarter valued at about $45,000. Jones Financial Companies Lllp grew its holdings in Constellation Brands by 133.3% during the third quarter. Jones Financial Companies Lllp now owns 203 shares of the company’s stock worth $47,000 after acquiring an additional 116 shares during the period. Insight Inv LLC bought a new stake in Constellation Brands in the second quarter worth about $58,000. Finally, Western Pacific Wealth Management LP acquired a new stake in Constellation Brands in the 3rd quarter valued at about $57,000. 84.87% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on STZ. Citigroup assumed coverage on shares of Constellation Brands in a research note on Thursday, February 16th. They issued a “buy” rating and a $265.00 price objective on the stock. Cowen cut Constellation Brands from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $275.00 to $200.00 in a report on Friday, January 6th. Morgan Stanley decreased their target price on Constellation Brands from $298.00 to $277.00 and set an “overweight” rating on the stock in a report on Friday, January 6th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a research report on Wednesday, March 1st. Finally, Wells Fargo & Company increased their price target on Constellation Brands from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, January 26th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $252.76.
Constellation Brands Stock Down 0.2 %
Constellation Brands (NYSE:STZ – Get Rating) last announced its quarterly earnings data on Thursday, January 5th. The company reported $2.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.05). Constellation Brands had a return on equity of 19.69% and a net margin of 0.98%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the business posted $3.12 earnings per share. Constellation Brands’s revenue was up 9.2% on a year-over-year basis. On average, equities analysts anticipate that Constellation Brands, Inc. will post 10.64 earnings per share for the current fiscal year.
Constellation Brands Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were issued a dividend of $0.80 per share. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $3.20 annualized dividend and a dividend yield of 1.48%. Constellation Brands’s dividend payout ratio is 914.29%.
About Constellation Brands
Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.
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