Kentucky Retirement Systems Insurance Trust Fund Sells 449 Shares of Constellation Brands, Inc. (NYSE:STZ)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Constellation Brands, Inc. (NYSE:STZ) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,309 shares of the company’s stock after selling 449 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Constellation Brands were worth $1,443,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in STZ. Orion Portfolio Solutions LLC grew its holdings in shares of Constellation Brands by 1.1% in the first quarter. Orion Portfolio Solutions LLC now owns 3,676 shares of the company’s stock worth $999,000 after acquiring an additional 39 shares during the period. Capital Advisors Ltd. LLC grew its stake in shares of Constellation Brands by 16.5% during the 1st quarter. Capital Advisors Ltd. LLC now owns 290 shares of the company’s stock valued at $79,000 after purchasing an additional 41 shares during the period. 1620 Investment Advisors Inc. increased its position in shares of Constellation Brands by 1.8% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,352 shares of the company’s stock valued at $569,000 after purchasing an additional 42 shares during the last quarter. FAS Wealth Partners Inc. lifted its stake in shares of Constellation Brands by 3.5% in the 4th quarter. FAS Wealth Partners Inc. now owns 1,277 shares of the company’s stock worth $309,000 after purchasing an additional 43 shares during the period. Finally, Smithfield Trust Co boosted its holdings in shares of Constellation Brands by 5.3% in the fourth quarter. Smithfield Trust Co now owns 854 shares of the company’s stock worth $207,000 after buying an additional 43 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of STZ traded up $4.10 during midday trading on Friday, hitting $253.48. 846,431 shares of the company traded hands, compared to its average volume of 1,287,151. The stock has a market cap of $46.19 billion, a price-to-earnings ratio of 18.89, a PEG ratio of 1.67 and a beta of 0.87. The firm has a 50 day moving average of $252.86 and a 200-day moving average of $255.09. 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 52 week low of $227.50 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The company had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.67 billion. During the same period in the prior year, the company earned $2.91 earnings per share. The firm’s revenue was up 5.8% on a year-over-year basis. On average, analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a yield of 1.59%. Constellation Brands’s dividend payout ratio (DPR) is currently 30.10%.

Insiders Place Their Bets

In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the sale, the chief executive officer now directly owns 14,700 shares in the company, valued at approximately $3,844,638. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now owns 2,706 shares in the company, valued at $706,266. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at approximately $3,844,638. The disclosure for this sale can be found here. Insiders sold 29,214 shares of company stock valued at $7,620,551 in the last three months. Corporate insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, May 28th. JPMorgan Chase & Co. boosted their price target on Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. HSBC upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Evercore ISI lifted their price objective on Constellation Brands from $300.00 to $310.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Finally, UBS Group increased their target price on shares of Constellation Brands from $315.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, July 5th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $300.28.

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.