Kovack Advisors Inc. Sells 71 Shares of Constellation Brands, Inc. (NYSE:STZ)

Kovack Advisors Inc. lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 4.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,566 shares of the company’s stock after selling 71 shares during the period. Kovack Advisors Inc.’s holdings in Constellation Brands were worth $425,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of STZ. Norden Group LLC bought a new stake in Constellation Brands during the 1st quarter valued at $924,000. Valeo Financial Advisors LLC raised its stake in shares of Constellation Brands by 4.4% during the 1st quarter. Valeo Financial Advisors LLC now owns 16,534 shares of the company’s stock valued at $4,493,000 after purchasing an additional 703 shares during the period. Plimoth Trust Co. LLC boosted its stake in Constellation Brands by 58.5% in the 1st quarter. Plimoth Trust Co. LLC now owns 5,147 shares of the company’s stock worth $1,399,000 after purchasing an additional 1,900 shares during the period. SeaCrest Wealth Management LLC purchased a new position in Constellation Brands during the 1st quarter valued at about $232,000. Finally, Naviter Wealth LLC bought a new stake in shares of Constellation Brands during the first quarter valued at about $204,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the transaction, the executive vice president now owns 20,910 shares of the company’s stock, valued at $5,512,503.30. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock valued at $12,582,321 in the last quarter. Insiders own 12.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on STZ. Piper Sandler initiated coverage on shares of Constellation Brands in a research note on Friday, March 22nd. They set an “overweight” rating and a $300.00 price objective for the company. HSBC lifted their price objective on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Barclays lowered their price target on Constellation Brands from $295.00 to $288.00 and set an “overweight” rating on the stock in a report on Wednesday, May 29th. Bank of America boosted their price objective on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Jefferies Financial Group upped their price objective on shares of Constellation Brands from $292.00 to $314.00 and gave the stock a “buy” rating in a research report on Friday, April 12th. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and an average price target of $298.63.

Constellation Brands Trading Down 3.3 %

Shares of NYSE:STZ traded down $8.57 on Thursday, reaching $250.37. 2,670,323 shares of the company traded hands, compared to its average volume of 1,100,250. Constellation Brands, Inc. has a 52 week low of $227.50 and a 52 week high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The business’s 50-day simple moving average is $255.22 and its 200 day simple moving average is $254.02. The stock has a market capitalization of $45.81 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 1.72 and a beta of 0.87.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm earned $2.91 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.67 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders 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 yield of 1.61%. Constellation Brands’s payout ratio is currently 43.07%.

Constellation Brands 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.