Koa Wealth Management LLC Acquires 7,340 Shares of Constellation Brands Inc (NYSE:STZ)

Key Points

• Koa Wealth Management LLC increased its position in Constellation Brands by 69.7%, owning 17,875 shares worth $3,280,000, making it the firm's 11th biggest holding.
• Constellation Brands reported a loss in earnings per share of $3.22 for the latest quarter, missing estimates of $3.45, with revenue declining 5.5% year-over-year.
• The company announced a quarterly dividend of $1.02 per share, with a dividend yield of 2.4%, although its payout ratio is currently at -170.71%.

Koa Wealth Management LLC raised its position in Constellation Brands Inc (NYSE:STZ - Free Report) by 69.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,875 shares of the company's stock after purchasing an additional 7,340 shares during the quarter. Constellation Brands accounts for approximately 2.6% of Koa Wealth Management LLC's holdings, making the stock its 11th largest holding. Koa Wealth Management LLC's holdings in Constellation Brands were worth $3,280,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Minot DeBlois Advisors LLC acquired a new stake in shares of Constellation Brands in the fourth quarter valued at about $29,000. Optiver Holding B.V. bought a new position in Constellation Brands during the fourth quarter worth about $31,000. Laurel Wealth Advisors LLC bought a new position in Constellation Brands during the first quarter worth about $32,000. Rakuten Securities Inc. boosted its holdings in shares of Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after acquiring an additional 161 shares during the period. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Constellation Brands during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Wall Street Analysts Forecast Growth

STZ has been the subject of a number of research analyst reports. Needham & Company LLC boosted their price objective on Constellation Brands from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Raymond James Financial upgraded Constellation Brands to a "strong-buy" rating in a research note on Monday, July 7th. Barclays set a $202.00 price target on shares of Constellation Brands and gave the stock an "overweight" rating in a report on Thursday, June 26th. Piper Sandler upped their price target on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Finally, Bank of America upped their price target on shares of Constellation Brands from $180.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $213.74.

Constellation Brands Trading Down 1.4%

Constellation Brands stock traded down $2.50 during trading hours on Friday, reaching $170.72. 1,386,497 shares of the company's stock were exchanged, compared to its average volume of 1,805,695. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The firm's 50 day simple moving average is $169.13 and its 200 day simple moving average is $176.81. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The firm has a market capitalization of $30.10 billion, a PE ratio of -71.43, a PEG ratio of 10.33 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter in the previous year, the business posted $3.57 earnings per share. The business's revenue was down 5.5% on a year-over-year basis. Research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio is -170.71%.

Insider Transactions at Constellation Brands

In other news, EVP James O. Bourdeau sold 821 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the transaction, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. This represents a 8.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president directly owned 3,126 shares in the company, valued at $589,376.04. This trade represents a 50.19% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is owned by corporate insiders.

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.