Constellation Brands, Inc. (NYSE:STZ) Shares Purchased by Koa Wealth Management LLC

Koa Wealth Management LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,672 shares of the company’s stock after purchasing an additional 411 shares during the period. Constellation Brands comprises approximately 2.1% of Koa Wealth Management LLC’s investment portfolio, making the stock its 14th biggest holding. Koa Wealth Management LLC’s holdings in Constellation Brands were worth $2,750,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. New Millennium Group LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Constellation Brands in the second quarter valued at approximately $29,000. Horizon Bancorp Inc. IN purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands during the 2nd quarter worth approximately $36,000. 77.34% of the stock is owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 1.9 %

STZ opened at $237.51 on Friday. The stock has a market capitalization of $43.12 billion, a PE ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a one year low of $224.76 and a one year high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The business’s 50 day moving average price is $244.13 and its 200 day moving average price is $248.09.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.70 EPS. As a group, equities research analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Insider Buying and Selling at Constellation Brands

In related news, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at approximately $3,898,045.58. This represents a 69.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,296 shares of company stock worth $45,899,031 over the last three months. Insiders own 12.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on STZ. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and lowered their price target for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Evercore ISI cut their price target on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, October 4th. Morgan Stanley dropped their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating on the stock in a report on Monday, August 26th. Barclays reduced their target price on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $290.47.

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.