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

WealthPlan Investment Management LLC lifted its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 29.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,160 shares of the company's stock after purchasing an additional 6,867 shares during the period. WealthPlan Investment Management LLC's holdings in Constellation Brands were worth $7,772,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STZ. Vanguard Group Inc. boosted its stake in Constellation Brands by 3.5% in the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company's stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Investors lifted its stake in Constellation Brands by 39.4% in the first quarter. Capital International Investors now owns 11,685,249 shares of the company's stock valued at $3,175,583,000 after purchasing an additional 3,304,709 shares during the last quarter. Capital World Investors lifted its stake in Constellation Brands by 8.7% in the first quarter. Capital World Investors now owns 9,040,669 shares of the company's stock valued at $2,456,892,000 after purchasing an additional 723,549 shares during the last quarter. Capital Research Global Investors grew its holdings in Constellation Brands by 9.9% during the first quarter. Capital Research Global Investors now owns 2,469,997 shares of the company's stock valued at $671,246,000 after purchasing an additional 222,380 shares during the period. Finally, Legal & General Group Plc increased its position in Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company's stock worth $343,717,000 after buying an additional 72,637 shares during the last quarter. 77.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Evercore ISI dropped their price target on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, October 4th. TD Cowen downgraded shares of Constellation Brands from a "buy" rating to a "hold" rating and dropped their price objective for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. Truist Financial reduced their target price on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating for the company in a research note on Friday, October 4th. Bank of America restated a "neutral" rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Finally, BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating for the company in a research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Constellation Brands has a consensus rating of "Moderate Buy" and a consensus price target of $290.47.

Constellation Brands Price Performance

Shares of STZ stock traded up $1.72 during trading on Tuesday, hitting $237.92. The company had a trading volume of 318,457 shares, compared to its average volume of 1,197,630. The stock's 50-day moving average is $244.78 and its two-hundred day moving average is $248.51. The stock has a market capitalization of $43.20 billion, a price-to-earnings ratio of 76.49, a price-to-earnings-growth ratio of 1.65 and a beta of 1.75. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates 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. As a group, analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands's dividend payout ratio (DPR) is currently 130.74%.

Insider Transactions at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's 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 transaction, the executive vice president now directly owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's 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 transaction, the executive vice president now directly owns 4,970 shares of the company's stock, valued at approximately $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the completion of the sale, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 128,210 shares of company stock worth $31,040,994. 12.19% of the stock is currently owned by corporate insiders.

About Constellation Brands

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.