Wealth Enhancement Advisory Services LLC Decreases Holdings in Constellation Brands, Inc. (NYSE:STZ)

Wealth Enhancement Advisory Services LLC decreased its stake in Constellation Brands, Inc. (NYSE:STZ) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 222,509 shares of the company’s stock after selling 847 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.12% of Constellation Brands worth $57,338,000 as of its most recent filing with the SEC.

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

Constellation Brands Price Performance

Shares of Constellation Brands stock opened at $239.38 on Friday. The firm has a market capitalization of $43.80 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.70 and a beta of 1.75. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 12 month low of $227.64 and a 12 month high of $274.87. The business’s 50-day moving average price is $246.34 and its 200-day moving average price is $250.60.

Constellation Brands (NYSE:STZ) last posted its quarterly 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 firm had revenue of $2.92 billion for the quarter, compared to the consensus estimate 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 was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $3.70 earnings per share. Sell-side analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s payout ratio is 30.10%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STZ. Royal Bank of Canada reiterated an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. TD Cowen downgraded shares of Constellation Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $300.00 to $270.00 in a report on Tuesday, October 8th. BMO Capital Markets lowered their target price on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Barclays cut their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a report on Monday, October 7th. Finally, Evercore ISI decreased 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. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Buying and Selling at Constellation Brands

In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Constellation Brands news, CFO Garth Hankinson sold 13,583 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $240.00, for a total transaction of $3,259,920.00. Following the completion of the sale, the chief financial officer now owns 11,702 shares of the company’s stock, valued at $2,808,480. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,367 shares of company stock worth $32,539,170 over the last three months. Company insiders own 12.19% of the company’s stock.

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.