Massachusetts Financial Services Co. MA Reduces Stock Position in Constellation Brands, Inc. (NYSE:STZ)

Massachusetts Financial Services Co. MA decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 500,031 shares of the company’s stock after selling 13,246 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.28% of Constellation Brands worth $128,853,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Legal & General Group Plc boosted its position in Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Constellation Brands by 31.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after buying an additional 241,982 shares during the last quarter. Boston Partners boosted its position in shares of Constellation Brands by 50.9% in the 1st quarter. Boston Partners now owns 975,589 shares of the company’s stock worth $265,099,000 after buying an additional 328,881 shares in the last quarter. International Assets Investment Management LLC grew its stake in Constellation Brands by 23,184.7% in the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in Constellation Brands during the 2nd quarter valued at about $119,394,000. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Stock Down 0.5 %

Shares of NYSE STZ opened at $239.66 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $43.51 billion, a PE ratio of 77.56, a P/E/G ratio of 1.70 and a beta of 0.90. The firm has a fifty day moving average of $243.04 and a 200-day moving average of $247.49. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87.

Constellation Brands (NYSE:STZ) last announced 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 company had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.70 earnings per share. On average, analysts anticipate that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were given a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

Insiders Place Their Bets

In other Constellation Brands 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 transaction of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Sands sold 119,274 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the completion of the sale, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 21.65 % decrease in their position. 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 ninety days. 12.19% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a report on Friday, October 4th. UBS Group reduced their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a research note on Monday, September 9th. TD Cowen downgraded Constellation Brands from a “buy” rating to a “hold” rating and dropped their price target for the stock from $300.00 to $270.00 in a research report on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a report on Friday, October 4th. Finally, 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 research note on Tuesday, October 15th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $290.47.

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.