Kovitz Investment Group Partners LLC Buys 15,980 Shares of Constellation Brands Inc $STZ

Kovitz Investment Group Partners LLC boosted its stake in Constellation Brands Inc (NYSE:STZ) by 682.6% during the fourth quarter, HoldingsChannel reports. The firm owned 18,321 shares of the company’s stock after buying an additional 15,980 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Constellation Brands were worth $2,528,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Capital International Investors grew its stake in Constellation Brands by 48.5% in the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock worth $888,930,000 after buying an additional 2,105,546 shares in the last quarter. Norges Bank purchased a new stake in shares of Constellation Brands during the 4th quarter valued at $267,798,000. Ameriprise Financial Inc. raised its position in shares of Constellation Brands by 650.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,769,741 shares of the company’s stock valued at $287,889,000 after buying an additional 1,533,961 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Constellation Brands by 14.0% during the 4th quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company’s stock worth $830,333,000 after acquiring an additional 739,393 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth $81,381,000. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Price Performance

Shares of NYSE:STZ opened at $141.25 on Friday. The stock has a market cap of $24.32 billion, a PE ratio of 14.73, a PEG ratio of 3.32 and a beta of 0.39. The company’s fifty day moving average is $148.95 and its 200 day moving average is $150.12. Constellation Brands Inc has a 52 week low of $126.45 and a 52 week high of $178.13. The company has a quick ratio of 0.55, a current ratio of 1.08 and a debt-to-equity ratio of 1.16.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, April 8th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.19. Constellation Brands had a net margin of 17.29% and a return on equity of 26.18%. The business had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $2.63 earnings per share. The firm’s revenue for the quarter was down 11.3% on a year-over-year basis. Research analysts anticipate that Constellation Brands Inc will post 11.84 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 29th were paid a $1.03 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend 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 is presently 42.96%.

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $143.24, for a total transaction of $631,258.68. Following the completion of the sale, the executive vice president directly owned 9,109 shares in the company, valued at $1,304,773.16. This represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 12.20% of the company’s stock.

Analysts Set New Price Targets

STZ has been the topic of a number of research analyst reports. Needham & Company LLC increased their target price on Constellation Brands from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Friday, April 10th. Bank of America dropped their price target on Constellation Brands from $154.00 to $152.00 and set an “underperform” rating for the company in a research note on Thursday, May 28th. Evercore set a $175.00 price objective on Constellation Brands and gave the stock an “outperform” rating in a report on Friday, April 10th. Morgan Stanley raised their price objective on Constellation Brands from $160.00 to $183.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Finally, Citigroup restated a “buy” rating on shares of Constellation Brands in a research report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.68.

About Constellation Brands

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.