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

WealthPlan Investment Management LLC grew its holdings in Constellation Brands Inc (NYSE:STZ) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Davidson Investment Advisors boosted its position in shares of Constellation Brands by 32.4% in the second quarter. Davidson Investment Advisors now owns 121,073 shares of the company’s stock valued at $19,696,000 after acquiring an additional 29,652 shares during the period. Generali Asset Management SPA SGR boosted its position in shares of Constellation Brands by 292.9% in the second quarter. Generali Asset Management SPA SGR now owns 17,569 shares of the company’s stock valued at $2,858,000 after acquiring an additional 13,097 shares during the period. Sagespring Wealth Partners LLC bought a new stake in shares of Constellation Brands in the second quarter valued at approximately $201,000. Axxcess Wealth Management LLC lifted its position in Constellation Brands by 13.3% in the second quarter. Axxcess Wealth Management LLC now owns 3,030 shares of the company’s stock worth $493,000 after purchasing an additional 355 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Constellation Brands by 17.4% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 9,658 shares of the company’s stock worth $1,571,000 after purchasing an additional 1,434 shares during the period. 77.34% of the stock is owned by institutional investors.

Constellation Brands Stock Performance

Shares of NYSE:STZ opened at $139.01 on Thursday. The business has a fifty day moving average of $149.01 and a 200-day moving average of $167.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The firm has a market cap of $24.51 billion, a PE ratio of 20.29, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $245.31.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. The firm had revenue of $2.32 billion during the quarter. Constellation Brands had a return on equity of 29.82% and a net margin of 11.88%. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, October 30th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s dividend payout ratio (DPR) is presently 59.56%.

Analyst Upgrades and Downgrades

STZ has been the subject of several research reports. Morgan Stanley reduced their target price on Constellation Brands from $176.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft reduced their target price on Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. Wells Fargo & Company reduced their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Raymond James Financial raised Constellation Brands to a “strong-buy” rating in a research report on Monday, July 7th. Finally, BNP Paribas cut Constellation Brands from a “hold” rating to a “strong sell” rating in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $186.44.

Insider Buying and Selling

In related news, EVP James O. Bourdeau sold 821 shares of Constellation Brands stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the completion of the sale, the executive vice president directly owned 9,438 shares in the company, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.45% of the stock is currently owned by insiders.

Constellation Brands Company 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.