California Public Employees Retirement System Acquires 14,481 Shares of Constellation Brands, Inc. (NYSE:STZ)

California Public Employees Retirement System raised its stake in Constellation Brands, Inc. (NYSE:STZ) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 730,568 shares of the company’s stock after acquiring an additional 14,481 shares during the quarter. California Public Employees Retirement System’s holdings in Constellation Brands were worth $176,615,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Burns Matteson Capital Management LLC grew its holdings in Constellation Brands by 1.7% during the 4th quarter. Burns Matteson Capital Management LLC now owns 2,499 shares of the company’s stock valued at $604,000 after buying an additional 42 shares in the last quarter. FAS Wealth Partners Inc. lifted its position in Constellation Brands by 3.5% during the fourth quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock valued at $309,000 after purchasing an additional 43 shares during the last quarter. Schear Investment Advisers LLC lifted its holdings in shares of Constellation Brands by 1.8% in the 4th quarter. Schear Investment Advisers LLC now owns 2,522 shares of the company’s stock worth $610,000 after acquiring an additional 44 shares during the last quarter. RDA Financial Network lifted its holdings in shares of Constellation Brands by 2.4% in the 3rd quarter. RDA Financial Network now owns 2,114 shares of the company’s stock worth $531,000 after acquiring an additional 50 shares during the last quarter. Finally, Lincoln National Corp increased its stake in shares of Constellation Brands by 2.0% in the third quarter. Lincoln National Corp now owns 2,565 shares of the company’s stock worth $645,000 after buying an additional 50 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Price Performance

Shares of STZ traded down $0.32 during trading hours on Tuesday, hitting $259.42. 160,539 shares of the stock were exchanged, compared to its average volume of 1,257,410. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. Constellation Brands, Inc. has a 12-month low of $221.81 and a 12-month high of $274.87. The company has a market cap of $47.43 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.76 and a beta of 0.97. The stock’s 50-day moving average price is $258.44 and its two-hundred day moving average price is $247.40.

Constellation Brands (NYSE:STZ) last issued its earnings results on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.16. The company had revenue of $2.14 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. Research analysts expect that Constellation Brands, Inc. will post 13.51 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. Constellation Brands’s dividend payout ratio is 37.95%.

Analysts Set New Price Targets

Several research analysts recently commented on STZ shares. Piper Sandler assumed coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 target price on the stock. Barclays raised their price target on Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Evercore ISI raised their price target on Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a research report on Friday, April 12th. Finally, UBS Group raised their price target on Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 16.19% of the company’s stock.

Constellation Brands 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.