Kovack Advisors Inc. Has $987,000 Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Kovack Advisors Inc. grew its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 52.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,830 shares of the company’s stock after buying an additional 1,312 shares during the quarter. Kovack Advisors Inc.’s holdings in Constellation Brands were worth $987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STZ. New Millennium Group LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Constellation Brands in the second quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new position in shares of Constellation Brands during the second quarter valued at about $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands during the second quarter worth about $36,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Constellation Brands in the 2nd quarter worth about $36,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Up 1.0 %

NYSE:STZ opened at $240.71 on Thursday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The firm’s 50 day moving average is $244.61 and its 200 day moving average is $248.35. The stock has a market capitalization of $43.70 billion, a PE ratio of 77.90, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Tuesday, November 5th will be paid a $1.01 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $4.04 annualized dividend and a dividend yield of 1.68%. Constellation Brands’s payout ratio is 130.74%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STZ. Truist Financial cut their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. UBS Group cut their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Morgan Stanley lowered their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Barclays dropped their price objective on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their target price for the stock from $300.00 to $270.00 in a research note on Tuesday, October 8th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Constellation Brands has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares of the company’s stock, valued at $1,725,683.76. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock worth $31,040,994 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

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.