Kovitz Investment Group Partners LLC Raises Stock Holdings in Constellation Brands Inc $STZ

Key Points

• Kovitz Investment Group Partners LLC boosted its Constellation Brands stake by 682.6% in the fourth quarter, ending with 18,321 shares worth about $2.53 million.
• Insider activity included EVP James O. Bourdeau selling 4,407 shares on May 12 at an average price of $143.24, trimming his position by about 32.6%.
• Constellation Brands reported stronger-than-expected quarterly results with $1.90 EPS and $1.92 billion in revenue, and it also raised its quarterly dividend to $1.03 per share.

Kovitz Investment Group Partners LLC increased its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 682.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,321 shares of the company's stock after acquiring an additional 15,980 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Constellation Brands were worth $2,528,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of STZ. Stance Capital LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth $26,000. Strive Financial Group LLC purchased a new position in shares of Constellation Brands in the 4th quarter worth about $27,000. GoalVest Advisory LLC bought a new position in Constellation Brands during the fourth quarter valued at about $28,000. Elyxium Wealth LLC bought a new position in Constellation Brands during the fourth quarter valued at about $33,000. Finally, GW&K Investment Management LLC grew its position in shares of Constellation Brands by 58.9% during the 4th quarter. GW&K Investment Management LLC now owns 267 shares of the company's stock valued at $37,000 after acquiring an additional 99 shares during the period. Hedge funds and other institutional investors own 77.34% of the company's stock.

Insider Activity at Constellation Brands

In other news, EVP James O. Bourdeau sold 4,407 shares of the business's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the transaction, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. The trade was a 32.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.20% of the stock is owned by company insiders.

Constellation Brands Trading Up 0.0%

Shares of STZ opened at $141.25 on Friday. Constellation Brands Inc has a twelve month low of $126.45 and a twelve month high of $178.13. The stock has a market cap of $24.32 billion, a PE ratio of 14.73, a P/E/G ratio of 3.32 and a beta of 0.39. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16. The business's 50-day moving average price is $148.95 and its 200-day moving average price is $150.12.

Constellation Brands (NYSE:STZ - Get Free Report) last released its quarterly earnings data on Wednesday, April 8th. The company reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.19. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.84 billion. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. Constellation Brands's revenue was down 11.3% compared to the same quarter last year. During the same period last year, the business earned $2.63 earnings per share. On average, equities analysts forecast that Constellation Brands Inc will post 11.84 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were given a dividend of $1.03 per share. This is an increase from Constellation Brands's previous quarterly dividend of $1.02. The ex-dividend date was Wednesday, April 29th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 2.9%. Constellation Brands's dividend payout ratio (DPR) is presently 42.96%.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research reports. TD Cowen raised shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their price target for the stock from $142.00 to $190.00 in a report on Monday, April 13th. Barclays raised their target price on Constellation Brands from $151.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. JPMorgan Chase & Co. upped their price target on Constellation Brands from $155.00 to $163.00 and gave the company a "neutral" rating in a research report on Wednesday, April 1st. Wells Fargo & Company increased their price target on Constellation Brands from $180.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday, April 10th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Constellation Brands in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $174.68.

Constellation Brands Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company's beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.

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