Maryland State Retirement & Pension System Sells 1,098 Shares of Constellation Brands Inc $STZ

Maryland State Retirement & Pension System trimmed its position in shares of Constellation Brands Inc (NYSE:STZ) by 14.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,351 shares of the company’s stock after selling 1,098 shares during the period. Maryland State Retirement & Pension System’s holdings in Constellation Brands were worth $1,033,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its holdings in Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company’s stock valued at $33,000 after acquiring an additional 161 shares during the period. Zions Bancorporation National Association UT bought a new stake in Constellation Brands during the first quarter valued at about $38,000. Flaharty Asset Management LLC bought a new stake in Constellation Brands during the first quarter valued at about $39,000. WPG Advisers LLC bought a new stake in Constellation Brands during the first quarter valued at about $43,000. Finally, Hoey Investments Inc. bought a new stake in Constellation Brands during the second quarter valued at about $40,000. 77.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STZ has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $173.00 to $153.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $180.00 price target on shares of Constellation Brands in a report on Wednesday, October 8th. Jefferies Financial Group decreased their price target on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Sanford C. Bernstein reduced their target price on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Finally, BNP Paribas cut shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Hold” and a consensus target price of $186.44.

Constellation Brands Stock Down 1.1%

NYSE STZ opened at $141.42 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The firm has a 50-day simple moving average of $150.78 and a 200 day simple moving average of $167.96. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $247.63. The stock has a market cap of $24.93 billion, a PE ratio of 20.65, a PEG ratio of 0.42 and a beta of 0.66.

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

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be paid a dividend of $1.02 per share. The ex-dividend date is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. Constellation Brands’s dividend payout ratio (DPR) is currently 59.56%.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the firm’s stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the transaction, the executive vice president owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.45% of the stock is currently owned by corporate insiders.

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.