State Board of Administration of Florida Retirement System Trims Stock Holdings in Constellation Brands Inc $STZ

State Board of Administration of Florida Retirement System reduced its position in Constellation Brands Inc (NYSE:STZ) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 141,697 shares of the company’s stock after selling 384 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.08% of Constellation Brands worth $23,051,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of STZ. Korea Investment CORP grew its position in Constellation Brands by 16.3% during the 2nd quarter. Korea Investment CORP now owns 143,965 shares of the company’s stock worth $23,420,000 after purchasing an additional 20,164 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Constellation Brands during the second quarter worth about $54,000. Quadrant Capital Group LLC grew its holdings in shares of Constellation Brands by 42.3% during the second quarter. Quadrant Capital Group LLC now owns 5,879 shares of the company’s stock worth $956,000 after buying an additional 1,747 shares during the last quarter. Employees Retirement System of Texas acquired a new position in Constellation Brands in the 2nd quarter valued at about $217,000. Finally, Choreo LLC increased its position in Constellation Brands by 17.6% in the 2nd quarter. Choreo LLC now owns 5,920 shares of the company’s stock valued at $963,000 after acquiring an additional 887 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on STZ shares. Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $182.00 to $158.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. BNP Paribas Exane cut shares of Constellation Brands from a “neutral” rating to an “underperform” rating and set a $123.00 price objective on the stock. in a research note on Wednesday, September 3rd. UBS Group set a $160.00 price objective on shares of Constellation Brands in a research report on Tuesday, October 7th. Finally, TD Cowen lowered their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating on the stock in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands currently has an average rating of “Hold” and a consensus price target of $181.88.

Constellation Brands Price Performance

Constellation Brands stock opened at $136.50 on Friday. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $245.31. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The firm’s 50-day simple moving average is $135.04 and its 200 day simple moving average is $155.58. The firm has a market capitalization of $23.89 billion, a PE ratio of 19.93, a P/E/G ratio of 0.39 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share (EPS) for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The firm had revenue of $2.32 billion for the quarter. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, October 30th. This represents a $4.08 annualized dividend and a dividend yield of 3.0%. Constellation Brands’s payout ratio is currently 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.