WealthPlan Investment Management LLC Lowers Holdings in Constellation Brands, Inc. (NYSE:STZ)

WealthPlan Investment Management LLC reduced its holdings in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 3.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,202 shares of the company’s stock after selling 440 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Constellation Brands were worth $3,569,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Smithfield Trust Co increased its holdings in shares of Constellation Brands by 4.7% in the second quarter. Smithfield Trust Co now owns 823 shares of the company’s stock valued at $205,000 after purchasing an additional 37 shares during the period. Copperwynd Financial LLC increased its holdings in shares of Constellation Brands by 1.3% in the second quarter. Copperwynd Financial LLC now owns 2,855 shares of the company’s stock valued at $703,000 after purchasing an additional 38 shares during the period. Checchi Capital Advisers LLC increased its holdings in shares of Constellation Brands by 2.2% in the second quarter. Checchi Capital Advisers LLC now owns 1,794 shares of the company’s stock valued at $442,000 after purchasing an additional 39 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Constellation Brands by 0.5% in the second quarter. B. Riley Wealth Advisors Inc. now owns 8,636 shares of the company’s stock valued at $2,125,000 after purchasing an additional 41 shares during the period. Finally, Lindbrook Capital LLC increased its holdings in shares of Constellation Brands by 24.0% in the second quarter. Lindbrook Capital LLC now owns 217 shares of the company’s stock valued at $53,000 after purchasing an additional 42 shares during the period. 88.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, major shareholder Family Foundation Sands sold 354,616 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $250.26, for a total value of $88,746,200.16. Following the transaction, the insider now owns 54,461 shares in the company, valued at $13,629,409.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 16.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE STZ opened at $242.55 on Friday. The company has a market cap of $44.34 billion, a PE ratio of 28.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.96. The stock’s 50 day simple moving average is $245.07 and its 200-day simple moving average is $248.62. Constellation Brands, Inc. has a 1-year low of $210.15 and a 1-year high of $273.65. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.05 and a quick ratio of 0.46.

Constellation Brands (NYSE:STZGet Free Report) last released its earnings results on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.16. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.54 billion. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.83 earnings per share. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 11.88 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be given a $0.89 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $3.56 annualized dividend and a dividend yield of 1.47%. Constellation Brands’s dividend payout ratio (DPR) is presently 42.13%.

Wall Street Analyst Weigh In

STZ has been the topic of a number of research reports. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. TheStreet lowered Constellation Brands from a “b” rating to a “c+” rating in a report on Friday, January 5th. Royal Bank of Canada restated an “outperform” rating and issued a $295.00 target price on shares of Constellation Brands in a research note on Friday. Jefferies Financial Group assumed coverage on Constellation Brands in a research note on Monday, November 13th. They issued a “buy” rating and a $292.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered their target price on Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a research note on Thursday, December 21st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $289.24.

Check Out Our Latest Research Report on STZ

Constellation Brands Profile

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.

See Also

Want to see what other hedge funds are holding STZ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Constellation Brands, Inc. (NYSE:STZFree Report).

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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