WealthPLAN Partners LLC Has $2.13 Million Holdings in Constellation Brands Inc (NYSE:STZ)

Key Points

• WealthPLAN Partners LLC increased its holdings in Constellation Brands Inc by 19.2%, now owning 11,624 shares worth approximately $2.13 million.
• The company reported a quarterly earnings miss with an EPS of $3.22, falling short of analysts' estimates of $3.45, amid a revenue decline of 5.5% year-over-year.
• Constellation Brands declared a quarterly dividend of $1.02 per share, which will be paid on August 14th, with an annualized yield of 2.4%.

WealthPLAN Partners LLC raised its holdings in shares of Constellation Brands Inc (NYSE:STZ - Free Report) by 19.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,624 shares of the company's stock after purchasing an additional 1,875 shares during the quarter. WealthPLAN Partners LLC's holdings in Constellation Brands were worth $2,133,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its stake in Constellation Brands by 1.7% in the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after buying an additional 62 shares during the period. Strategic Financial Concepts LLC lifted its stake in Constellation Brands by 5.8% in the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock valued at $207,000 after buying an additional 62 shares during the period. World Investment Advisors lifted its stake in Constellation Brands by 1.7% in the first quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after buying an additional 62 shares during the period. Moody National Bank Trust Division lifted its stake in Constellation Brands by 0.9% in the first quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after buying an additional 64 shares during the period. Finally, Bessemer Group Inc. lifted its stake in Constellation Brands by 3.0% in the first quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock valued at $412,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 77.34% of the company's stock.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James O. Bourdeau sold 821 shares of the company's stock in a transaction on Monday, July 21st. The shares were 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 in the company, valued at $1,595,022. This represents a 8.00% decrease in their position. The disclosure for this sale can be found here. 12.45% of the stock is owned by corporate insiders.

Constellation Brands Stock Down 0.7%

Shares of NYSE:STZ opened at $169.44 on Thursday. The company has a market capitalization of $29.87 billion, a PE ratio of -70.89, a price-to-earnings-growth ratio of 10.33 and a beta of 0.67. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.07 and a quick ratio of 0.68. The business has a fifty day moving average price of $169.41 and a two-hundred day moving average price of $177.00. Constellation Brands Inc has a 1 year low of $159.35 and a 1 year high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings data on Tuesday, July 1st. The company reported $3.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. The firm's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.57 EPS. Analysts forecast that Constellation Brands Inc will post 13.5 earnings per share for the current 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 given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, July 30th. Constellation Brands's dividend payout ratio is currently -170.71%.

Analyst Ratings Changes

Several brokerages have issued reports on STZ. Citigroup boosted their price target on Constellation Brands from $170.00 to $174.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Constellation Brands from $191.00 to $185.00 and set a "hold" rating on the stock in a research report on Thursday, June 5th. UBS Group upped their target price on Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. CJS Securities lowered their target price on Constellation Brands from $196.00 to $194.00 in a research report on Monday, May 19th. Finally, Roth Capital lowered their target price on Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research report on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $213.74.

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.

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