Retirement Systems of Alabama Has $5.34 Million Stock Holdings in Constellation Brands Inc $STZ

Retirement Systems of Alabama lessened its holdings in Constellation Brands Inc (NYSE:STZ) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,847 shares of the company’s stock after selling 548 shares during the period. Retirement Systems of Alabama’s holdings in Constellation Brands were worth $5,344,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Constellation Brands by 18.6% in the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP raised its position in Constellation Brands by 127.9% in the first quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after purchasing an additional 2,514,517 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Constellation Brands by 7.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,922,122 shares of the company’s stock worth $352,748,000 after purchasing an additional 139,158 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Constellation Brands by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,693,827 shares of the company’s stock worth $310,851,000 after purchasing an additional 76,186 shares in the last quarter. Finally, Northern Trust Corp raised its position in Constellation Brands by 1.2% in the first quarter. Northern Trust Corp now owns 1,534,357 shares of the company’s stock worth $281,585,000 after purchasing an additional 17,832 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STZ. Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. Barclays decreased their price objective on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. BMO Capital Markets decreased their price objective on shares of Constellation Brands from $215.00 to $190.00 and set an “outperform” rating on the stock in a research note on Thursday, September 4th. Citigroup decreased their price objective on shares of Constellation Brands from $155.00 to $145.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 23rd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $186.44.

Constellation Brands Price Performance

STZ opened at $130.73 on Tuesday. Constellation Brands Inc has a one year low of $127.00 and a one year high of $245.31. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.08 and a quick ratio of 0.54. The company’s 50 day simple moving average is $140.82 and its 200-day simple moving average is $162.92. The stock has a market capitalization of $22.88 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The business had revenue of $2.32 billion for the quarter. Sell-side analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

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.