WealthPlan Investment Management LLC Buys 1,646 Shares of Constellation Brands Inc $STZ

WealthPlan Investment Management LLC grew its stake in shares of Constellation Brands Inc (NYSE:STZ) by 4.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 36,927 shares of the company’s stock after acquiring an additional 1,646 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Constellation Brands were worth $6,007,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Davidson Investment Advisors boosted its holdings in Constellation Brands by 32.4% during the second quarter. Davidson Investment Advisors now owns 121,073 shares of the company’s stock worth $19,696,000 after buying an additional 29,652 shares during the last quarter. Generali Asset Management SPA SGR boosted its holdings in Constellation Brands by 292.9% during the second quarter. Generali Asset Management SPA SGR now owns 17,569 shares of the company’s stock worth $2,858,000 after buying an additional 13,097 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Constellation Brands during the second quarter worth about $201,000. Axxcess Wealth Management LLC boosted its holdings in Constellation Brands by 13.3% during the second quarter. Axxcess Wealth Management LLC now owns 3,030 shares of the company’s stock worth $493,000 after buying an additional 355 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. boosted its holdings in Constellation Brands by 17.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,658 shares of the company’s stock worth $1,571,000 after buying an additional 1,434 shares during the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.6%

NYSE:STZ opened at $139.01 on Thursday. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $245.31. The company has a quick ratio of 0.54, a current ratio of 1.08 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $149.01 and a two-hundred day moving average price of $167.29. The company has a market cap of $24.51 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, February 23rd. The company reported $3.12 earnings per share for the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%.The firm had revenue of $2.32 billion during the quarter. As a group, analysts expect that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 annualized dividend and a yield of 2.9%. Constellation Brands’s payout ratio is 59.56%.

Insider Buying and Selling

In other Constellation Brands news, EVP James O. Bourdeau sold 821 shares of the business’s 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 sale, the executive vice president directly owned 9,438 shares of the company’s stock, valued at $1,595,022. The trade was a 8.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 12.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STZ. Bank of America reduced their target price on Constellation Brands from $150.00 to $142.00 and set an “underperform” rating on the stock in a report on Wednesday, September 3rd. BNP Paribas downgraded shares of Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. Raymond James Financial raised shares of Constellation Brands to a “strong-buy” rating in a research note on Monday, July 7th. Wells Fargo & Company cut their price target on shares of Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, Barclays cut their price target on shares of Constellation Brands from $150.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Constellation Brands presently has a consensus rating of “Hold” and an average target price of $186.44.

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.