WealthPLAN Partners LLC Has $3.25 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

WealthPLAN Partners LLC reduced its stake in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 26.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,599 shares of the company's stock after selling 4,556 shares during the period. WealthPLAN Partners LLC's holdings in Constellation Brands were worth $3,247,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. New Millennium Group LLC bought a new position in shares of Constellation Brands during the 2nd quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the 2nd quarter valued at $29,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands in the 2nd quarter worth $32,000. Opal Wealth Advisors LLC acquired a new stake in Constellation Brands in the 2nd quarter valued at approximately $36,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the 2nd quarter valued at approximately $36,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STZ has been the topic of a number of recent research reports. Bank of America reiterated a "neutral" rating and issued a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial lowered their price target on shares of Constellation Brands from $265.00 to $255.00 and set a "hold" rating on the stock in a research note on Friday, October 4th. Morgan Stanley reduced their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an "overweight" rating for the company in a research note on Monday, August 26th. Evercore ISI decreased their price objective on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Finally, TD Cowen lowered Constellation Brands from a "buy" rating to a "hold" rating and dropped their target price for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $290.47.

Constellation Brands Stock Performance

Shares of STZ stock traded up $2.14 on Tuesday, hitting $238.34. The company's stock had a trading volume of 283,424 shares, compared to its average volume of 1,197,470. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock's 50 day moving average is $244.78 and its 200-day moving average is $248.51. The company has a market capitalization of $43.27 billion, a PE ratio of 76.49, a PEG ratio of 1.65 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping the consensus estimate of $4.08 by $0.24. The company had revenue of $2.92 billion for the quarter, compared to analysts' expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business's revenue for the quarter was up 2.9% on a year-over-year basis. During the same period last year, the firm earned $3.70 earnings per share. Equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis 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 presently 130.74%.

Insider Buying and Selling

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the firm's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company's stock, valued at $104,638,157.73. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO William A. Newlands sold 7,426 shares of Constellation Brands stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares of the company's stock, valued at approximately $1,725,683.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now directly owns 431,729 shares of the company's stock, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,210 shares of company stock valued at $31,040,994 over the last quarter. 12.19% of the stock is owned by company 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.