Wealth Enhancement Advisory Services LLC Has $38.97 Million Stock Position in Constellation Brands Inc (NYSE:STZ)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 23.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 212,324 shares of the company's stock after selling 66,165 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.12% of Constellation Brands worth $38,966,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of STZ. Mainstream Capital Management LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $26,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the 4th quarter worth about $28,000. Minot DeBlois Advisors LLC bought a new stake in shares of Constellation Brands during the 4th quarter worth about $29,000. Finally, Optiver Holding B.V. bought a new stake in shares of Constellation Brands during the 4th quarter worth about $31,000. Institutional investors own 77.34% of the company's stock.

Constellation Brands Price Performance

Shares of NYSE:STZ traded up $2.30 during midday trading on Friday, hitting $162.30. The stock had a trading volume of 4,359,080 shares, compared to its average volume of 1,847,258. The company's 50-day moving average price is $181.16 and its 200-day moving average price is $188.32. The company has a market capitalization of $28.89 billion, a P/E ratio of -318.23, a price-to-earnings-growth ratio of 8.80 and a beta of 0.70. The company has a quick ratio of 0.56, a current ratio of 0.92 and a debt-to-equity ratio of 1.30. Constellation Brands Inc has a fifty-two week low of $159.35 and a fifty-two week high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.14 billion. Constellation Brands had a negative net margin of 0.74% and a positive return on equity of 29.56%. The firm's revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.26 EPS. As a group, equities research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were issued a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.51%. Constellation Brands's payout ratio is -800.00%.

Insider Activity at Constellation Brands

In related news, EVP Samuel J. Glaetzer sold 3,150 shares of Constellation Brands stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total transaction of $593,901.00. Following the sale, the executive vice president now directly owns 3,126 shares of the company's stock, valued at approximately $589,376.04. The trade was a 50.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 12.45% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on STZ. CJS Securities reduced their target price on shares of Constellation Brands from $196.00 to $194.00 in a report on Monday, May 19th. The Goldman Sachs Group dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Piper Sandler lifted their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and issued a $215.00 price objective on shares of Constellation Brands in a research note on Thursday, April 10th. Finally, Roth Capital dropped their price objective on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research note on Tuesday, May 20th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Constellation Brands has a consensus rating of "Moderate Buy" and an average target price of $215.87.

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.