California State Teachers Retirement System Has $77.24 Million Position in Constellation Brands, Inc. (NYSE:STZ)

California State Teachers Retirement System raised its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.8% during the first quarter, Holdings Channel reports. The firm owned 284,224 shares of the company’s stock after buying an additional 5,111 shares during the period. California State Teachers Retirement System’s holdings in Constellation Brands were worth $77,241,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. YHB Investment Advisors Inc. acquired a new stake in shares of Constellation Brands in the first quarter valued at $35,000. Kapitalo Investimentos Ltda bought a new position in Constellation Brands in the 4th quarter worth approximately $35,000. First Financial Corp IN acquired a new position in Constellation Brands during the 1st quarter worth $35,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth $37,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Constellation Brands in the first quarter worth about $45,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Stock Performance

Shares of NYSE:STZ traded up $1.86 during trading on Wednesday, hitting $245.16. The company’s stock had a trading volume of 1,098,442 shares, compared to its average volume of 1,207,065. The company has a 50-day moving average of $252.62 and a 200-day moving average of $254.91. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 1.62 and a beta of 0.87. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53.

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

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be given a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Wednesday, August 14th. Constellation Brands’s dividend payout ratio is 30.10%.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of recent analyst reports. Roth Mkm dropped their price objective on Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a report on Friday, July 5th. UBS Group increased their price target on shares of Constellation Brands from $315.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Wedbush restated an “outperform” rating and set a $300.00 price objective on shares of Constellation Brands in a report on Wednesday, April 10th. Argus upgraded shares of Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 target price on the stock in a report on Monday, April 15th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the company an “overweight” rating in a report on Friday, July 5th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $300.28.

Insider Activity at Constellation Brands

In related news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the completion of the sale, the executive vice president now directly owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the completion of the sale, the executive vice president now owns 1,731 shares of the company’s stock, valued at approximately $442,270.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel J. Mccarthy sold 1,854 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $252.43, for a total value of $468,005.22. Following the sale, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,068 shares of company stock valued at $8,088,556. Insiders own 12.19% of the company’s stock.

About Constellation Brands

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.