California Public Employees Retirement System Reduces Position in Constellation Brands Inc $STZ

California Public Employees Retirement System decreased its stake in shares of Constellation Brands Inc (NYSE:STZ) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 323,015 shares of the company’s stock after selling 27,814 shares during the quarter. California Public Employees Retirement System’s holdings in Constellation Brands were worth $48,452,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC raised its stake in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after acquiring an additional 187 shares during the last quarter. Woodline Partners LP purchased a new stake in Constellation Brands during the 1st quarter valued at about $2,409,000. Cary Street Partners Financial LLC increased its holdings in shares of Constellation Brands by 69.9% in the second quarter. Cary Street Partners Financial LLC now owns 1,026 shares of the company’s stock valued at $167,000 after purchasing an additional 422 shares during the period. Bank of Nova Scotia increased its holdings in shares of Constellation Brands by 3.6% in the second quarter. Bank of Nova Scotia now owns 17,347 shares of the company’s stock valued at $2,822,000 after purchasing an additional 599 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Constellation Brands by 5.0% in the second quarter. Daiwa Securities Group Inc. now owns 23,732 shares of the company’s stock worth $3,861,000 after purchasing an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

Constellation Brands stock opened at $134.41 on Tuesday. The stock has a market capitalization of $22.95 billion, a P/E ratio of 12.83, a P/E/G ratio of 4.14 and a beta of 0.39. The company’s fifty day moving average price is $140.34 and its 200 day moving average price is $149.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.48 and a current ratio of 0.91. Constellation Brands Inc has a 1 year low of $126.45 and a 1 year high of $178.13.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.27). Constellation Brands had a return on equity of 25.58% and a net margin of 18.87%.The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the firm posted $3.22 earnings per share. Constellation Brands’s quarterly revenue was down 3.3% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. As a group, equities research analysts anticipate that Constellation Brands Inc will post 11.82 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a dividend of $1.03 per share. The ex-dividend date of this dividend is Thursday, July 30th. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. Constellation Brands’s payout ratio is presently 39.31%.

Analyst Ratings Changes

STZ has been the subject of a number of research reports. Barclays decreased their target price on Constellation Brands from $170.00 to $139.00 and set an “equal weight” rating for the company in a report on Thursday, July 2nd. Bank of America reduced their price target on shares of Constellation Brands from $152.00 to $145.00 and set an “underperform” rating for the company in a research report on Thursday, July 2nd. Citigroup restated a “buy” rating on shares of Constellation Brands in a research note on Monday, May 18th. TD Cowen reaffirmed a “buy” rating and issued a $174.00 price objective on shares of Constellation Brands in a report on Wednesday, July 1st. Finally, Roth Capital reiterated a “buy” rating and issued a $209.00 price objective on shares of Constellation Brands in a research note on Thursday, July 2nd. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $167.89.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, EVP James O. Bourdeau sold 4,407 shares of Constellation Brands stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the transaction, the executive vice president directly owned 9,109 shares of the company’s stock, valued at $1,304,773.16. The trade was a 32.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 12.20% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.