Koa Wealth Management LLC Raises Position in Constellation Brands, Inc. (NYSE:STZ)

Koa Wealth Management LLC lifted its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 4.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,672 shares of the company’s stock after acquiring an additional 411 shares during the quarter. Constellation Brands accounts for about 2.1% of Koa Wealth Management LLC’s portfolio, making the stock its 14th largest position. Koa Wealth Management LLC’s holdings in Constellation Brands were worth $2,750,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Northcape Wealth Management LLC increased its position in shares of Constellation Brands by 1.3% in the 3rd quarter. Northcape Wealth Management LLC now owns 9,921 shares of the company’s stock valued at $2,557,000 after purchasing an additional 123 shares during the last quarter. First Long Island Investors LLC increased its position in Constellation Brands by 5.5% during the third quarter. First Long Island Investors LLC now owns 46,810 shares of the company’s stock worth $12,062,000 after buying an additional 2,445 shares during the period. KCM Investment Advisors LLC raised its position in Constellation Brands by 1.7% in the 3rd quarter. KCM Investment Advisors LLC now owns 3,382 shares of the company’s stock valued at $872,000 after purchasing an additional 56 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Constellation Brands by 318.8% in the third quarter. Empowered Funds LLC now owns 10,184 shares of the company’s stock valued at $2,624,000 after buying an additional 7,752 shares during the last quarter. Finally, Empirical Finance LLC lifted its position in Constellation Brands by 14.8% during the 3rd quarter. Empirical Finance LLC now owns 2,848 shares of the company’s stock worth $734,000 after acquiring an additional 368 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on STZ shares. Barclays lowered their target price on shares of Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. JPMorgan Chase & Co. decreased 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. Finally, Bank of America restated a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the transaction, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. This trade represents a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 189,296 shares of company stock valued at $45,899,031 in the last ninety days. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Down 1.9 %

Shares of NYSE:STZ opened at $237.51 on Friday. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $43.12 billion, a price-to-earnings ratio of 76.86, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The company has a 50 day moving average of $244.13 and a two-hundred day moving average of $248.09.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. Constellation Brands’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.70 EPS. As a group, analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

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.