WealthPlan Investment Management LLC Boosts Stake in Constellation Brands Inc (NYSE:STZ)

Key Points

• WealthPlan Investment Management LLC increased its stake in Constellation Brands by 17.0%, owning 35,281 shares worth approximately $6.48 million as of the recent SEC filing.
• Company insiders have sold shares, with EVP James O. Bourdeau selling 821 shares and EVP Samuel J. Glaetzer selling 3,150 shares, indicating significant reductions in their ownership positions.
• Equities analysts have set new price targets for Constellation Brands, with JPMorgan Chase raising its target from $170.00 to $182.00 while maintaining a "neutral" rating, amid varying assessments from other firms.

WealthPlan Investment Management LLC raised its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,281 shares of the company's stock after buying an additional 5,124 shares during the quarter. WealthPlan Investment Management LLC's holdings in Constellation Brands were worth $6,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Minot DeBlois Advisors LLC purchased a new position in Constellation Brands during the fourth quarter worth about $29,000. Optiver Holding B.V. purchased a new position in Constellation Brands during the fourth quarter worth about $31,000. Laurel Wealth Advisors LLC purchased a new position in Constellation Brands during the first quarter worth about $32,000. Rakuten Securities Inc. grew its position in Constellation Brands by 805.0% during the first quarter. Rakuten Securities Inc. now owns 181 shares of the company's stock worth $33,000 after buying an additional 161 shares in the last quarter. Finally, Fourth Dimension Wealth LLC purchased a new position in Constellation Brands during the fourth quarter worth about $44,000. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the transaction, the executive vice president directly owned 9,438 shares of the company's stock, valued at approximately $1,595,022. This trade represents a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Samuel J. Glaetzer sold 3,150 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president directly owned 3,126 shares in the company, valued at approximately $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 12.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STZ shares. JPMorgan Chase & Co. upped their price objective on Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Piper Sandler upped their price objective on Constellation Brands from $165.00 to $170.00 and gave the stock a "neutral" rating in a report on Friday, June 6th. Royal Bank Of Canada cut their price objective on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Cowen reiterated a "hold" rating on shares of Constellation Brands in a report on Monday, July 7th. Finally, Citigroup upped their price objective on Constellation Brands from $170.00 to $174.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. Eleven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average target price of $213.74.

Constellation Brands Stock Performance

Constellation Brands stock opened at $169.44 on Thursday. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $29.87 billion, a P/E ratio of -70.89, a PEG ratio of 10.33 and a beta of 0.67. The stock's 50 day moving average is $169.41 and its 200 day moving average is $177.00. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%. The company had revenue of $2.52 billion during the quarter, compared to analysts' expectations of $2.57 billion. During the same quarter in the previous year, the company earned $3.57 EPS. The business's quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Wednesday, July 30th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 30th. Constellation Brands's dividend payout ratio (DPR) is -170.71%.

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.

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