Kentucky Retirement Systems Insurance Trust Fund Purchases 1,261 Shares of Constellation Brands, Inc. (NYSE:STZ)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 27.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,900 shares of the company’s stock after acquiring an additional 1,261 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Constellation Brands were worth $1,304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new stake in Constellation Brands during the 4th quarter worth $27,000. Union Bancaire Privee UBP SA bought a new stake in Constellation Brands during the 4th quarter worth $28,000. Eastern Bank bought a new stake in Constellation Brands during the 3rd quarter worth $39,000. Versant Capital Management Inc grew its position in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after acquiring an additional 142 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Constellation Brands during the 3rd quarter worth $42,000. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction dated Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the acquisition, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Truist Financial dropped their price objective on Constellation Brands from $255.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. StockNews.com raised Constellation Brands from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Barclays dropped their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 14th. Finally, Wells Fargo & Company dropped their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Ten research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.29.

Constellation Brands Stock Performance

Shares of STZ opened at $169.11 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a 50 day moving average price of $198.25 and a two-hundred day moving average price of $227.06. The firm has a market capitalization of $30.56 billion, a P/E ratio of 45.46, a P/E/G ratio of 1.51 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last released its earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The business’s revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company earned $3.19 earnings per share. Equities analysts forecast that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 108.60%.

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 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.