Louisiana State Employees Retirement System Acquires 300 Shares of Constellation Brands, Inc. (NYSE:STZ)

Posted by on Apr 3rd, 2023

Louisiana State Employees Retirement System grew its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Get Rating) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,500 shares of the company’s stock after purchasing an additional 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Constellation Brands were worth $2,433,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Constellation Brands by 2.6% during the first quarter. Vanguard Group Inc. now owns 12,601,280 shares of the company’s stock worth $2,902,327,000 after purchasing an additional 313,344 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Constellation Brands by 52.1% during the third quarter. Price T Rowe Associates Inc. MD now owns 2,582,020 shares of the company’s stock worth $593,276,000 after purchasing an additional 884,513 shares during the period. Neuberger Berman Group LLC boosted its position in Constellation Brands by 4.6% during the third quarter. Neuberger Berman Group LLC now owns 1,610,593 shares of the company’s stock worth $370,049,000 after purchasing an additional 70,416 shares during the period. UBS Asset Management Americas Inc. boosted its position in Constellation Brands by 56.1% during the third quarter. UBS Asset Management Americas Inc. now owns 1,224,813 shares of the company’s stock worth $281,315,000 after purchasing an additional 440,230 shares during the period. Finally, Capital International Investors boosted its position in Constellation Brands by 17.9% during the first quarter. Capital International Investors now owns 1,172,206 shares of the company’s stock worth $270,000,000 after purchasing an additional 178,034 shares during the period. Institutional investors own 84.87% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on STZ shares. Argus cut their target price on shares of Constellation Brands from $295.00 to $250.00 in a research report on Friday, January 6th. Wells Fargo & Company increased their price target on shares of Constellation Brands from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. JPMorgan Chase & Co. increased their price target on shares of Constellation Brands from $250.00 to $253.00 and gave the stock an “overweight” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Constellation Brands from $217.00 to $210.00 in a report on Monday, March 20th. Finally, Morgan Stanley lowered their price target on shares of Constellation Brands from $298.00 to $277.00 and set an “overweight” rating on the stock in a report on Friday, January 6th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $249.76.

Constellation Brands Trading Up 0.4 %

STZ stock opened at $225.89 on Monday. The company has a market capitalization of $41.69 billion, a PE ratio of 645.42, a price-to-earnings-growth ratio of 2.12 and a beta of 1.01. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.63 and a current ratio of 1.29. Constellation Brands, Inc. has a one year low of $208.12 and a one year high of $261.52. The company’s 50 day moving average price is $223.11 and its two-hundred day moving average price is $231.59.

Constellation Brands (NYSE:STZ – Get Rating) last announced its quarterly earnings data on Thursday, January 5th. The company reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.05). The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.38 billion. Constellation Brands had a return on equity of 19.69% and a net margin of 0.98%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.12 earnings per share. As a group, analysts predict that Constellation Brands, Inc. will post 10.53 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 22nd. Stockholders of record on Wednesday, February 8th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, February 7th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.42%. Constellation Brands’s payout ratio is 914.31%.

Constellation Brands Company Profile

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Constellation Brands, Inc engages in the production, marketing, and distribution of beer, wine, and spirits. It operates through the following segments: Beer, Wine and Spirits, and Corporate Operations and Other, and Canopy. The Beer segment includes imported and craft beer brands. The Wine and Spirits segment sells wine brands across all categories-table wine, sparkling wine, and dessert wine-and across all price points.

Further Reading

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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