Kovitz Investment Group Partners LLC Raises Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Kovitz Investment Group Partners LLC boosted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 31.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,233 shares of the company's stock after buying an additional 9,651 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Constellation Brands were worth $9,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. New Millennium Group LLC bought a new position in shares of Constellation Brands in the second quarter valued at about $25,000. Horizon Bancorp Inc. IN acquired a new stake in Constellation Brands during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the second quarter worth approximately $36,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $36,000. Finally, Wellington Shields & Co. LLC increased its stake in shares of Constellation Brands by 50.0% during the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company's stock worth $39,000 after purchasing an additional 50 shares during the period. Institutional investors own 77.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STZ. TD Cowen downgraded Constellation Brands from a "buy" rating to a "hold" rating and reduced their price target for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a "neutral" rating and a $261.00 price target on the stock. Roth Mkm reiterated a "buy" rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Royal Bank of Canada restated an "outperform" rating and set a $308.00 target price on shares of Constellation Brands in a research report on Tuesday, November 19th. Finally, BMO Capital Markets dropped their price target on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research report on Tuesday, October 15th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.70.

Constellation Brands Trading Down 0.2 %

STZ traded down $0.50 during midday trading on Friday, hitting $239.00. 1,701,897 shares of the company were exchanged, compared to its average volume of 1,221,266. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year 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 firm has a market capitalization of $43.39 billion, a P/E ratio of 77.35, a P/E/G ratio of 1.68 and a beta of 0.90. The firm's 50 day moving average price is $240.10 and its 200-day moving average price is $246.23.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. The firm had revenue of $2.92 billion during 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 business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company posted $3.70 EPS. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a yield of 1.69%. The ex-dividend date was Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is currently 130.74%.

Insider Activity at Constellation Brands

In related news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at approximately $1,771,800.92. This represents a 77.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction on Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the transaction, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last three months. Corporate insiders own 12.19% of the company's stock.

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.