Wealth Enhancement Advisory Services LLC Purchases 5,368 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wealth Enhancement Advisory Services LLC lifted its position in Constellation Brands, Inc. (NYSE:STZ) by 2.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,452 shares of the company’s stock after acquiring an additional 5,368 shares during the period. Wealth Enhancement Advisory Services LLC owned 0.12% of Constellation Brands worth $60,453,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new position in shares of Constellation Brands in the 4th quarter worth approximately $28,000. Kapitalo Investimentos Ltda bought a new stake in shares of Constellation Brands in the 4th quarter worth $35,000. First Financial Corp IN bought a new stake in shares of Constellation Brands in the 1st quarter worth $35,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth $37,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Constellation Brands in the 4th quarter worth $45,000. Institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling at Constellation Brands

In other news, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $255.50, for a total transaction of $827,053.50. Following the transaction, the executive vice president now owns 1,731 shares of the company’s stock, valued at $442,270.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $261.54, for a total transaction of $6,538,500.00. Following the transaction, the chief executive officer now owns 14,700 shares of the company’s stock, valued at $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Mcgrew sold 3,237 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total value of $827,053.50. Following the transaction, the executive vice president now directly owns 1,731 shares in the company, valued at approximately $442,270.50. The disclosure for this sale can be found here. Insiders have sold a total of 48,031 shares of company stock worth $12,582,321 over the last ninety days. Company insiders own 12.19% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on STZ. Piper Sandler began coverage on Constellation Brands in a research note on Friday, March 22nd. They issued an “overweight” rating and a $300.00 price target on the stock. UBS Group dropped their price target on Constellation Brands from $320.00 to $315.00 and set a “buy” rating on the stock in a research note on Thursday, June 20th. Argus raised Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a report on Monday, April 15th. HSBC boosted their price target on Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Roth Mkm reissued a “buy” rating and set a $305.00 price target on shares of Constellation Brands in a report on Friday, April 12th. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $298.37.

Constellation Brands Price Performance

NYSE:STZ opened at $255.91 on Friday. Constellation Brands, Inc. has a 12 month low of $227.50 and a 12 month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The business’s 50-day moving average is $255.46 and its 200 day moving average is $253.39. The company has a market capitalization of $46.83 billion, a P/E ratio of 27.28, a P/E/G ratio of 1.73 and a beta of 0.89.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Thursday, April 11th. The company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The business had revenue of $2.14 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period in the prior year, the business posted $1.98 earnings per share. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Constellation Brands, Inc. will post 13.67 earnings per share for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Thursday, May 2nd. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. This represents a $4.04 dividend on an annualized basis and a yield of 1.58%. Constellation Brands’s dividend payout ratio is 43.07%.

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.