Wealth Enhancement Advisory Services LLC Purchases 147,457 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wealth Enhancement Advisory Services LLC raised its position in Constellation Brands, Inc. (NYSE:STZ) by 66.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,966 shares of the company’s stock after acquiring an additional 147,457 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Constellation Brands were worth $81,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of STZ. Ashton Thomas Private Wealth LLC bought a new stake in Constellation Brands in the 2nd quarter valued at $36,000. Eastern Bank bought a new position in shares of Constellation Brands in the third quarter valued at about $39,000. Versant Capital Management Inc lifted its stake in shares of Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after buying an additional 142 shares during the last quarter. FSA Wealth Management LLC bought a new stake in shares of Constellation Brands during the 3rd quarter worth about $42,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Constellation Brands in the 2nd quarter valued at about $57,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STZ. Truist Financial reduced their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a report on Friday, October 4th. BMO Capital Markets decreased their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Bank of America reissued a “neutral” rating and set a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. JPMorgan Chase & Co. decreased their price target on shares of Constellation Brands from $293.00 to $262.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, TD Cowen dropped their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research note on Wednesday. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $284.75.

Constellation Brands Stock Down 17.2 %

STZ stock opened at $181.57 on Friday. The stock has a market capitalization of $32.97 billion, a P/E ratio of 58.76, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The firm has a 50-day moving average price of $231.88 and a 200-day moving average price of $241.56. 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 $179.55 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter last year, the firm posted $3.19 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is currently 130.74%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction 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 sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This represents a 21.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of Constellation Brands stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total value of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock worth $46,058,091 over the last three months. 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.