Constellation Brands, Inc. (NYSE:STZ) Stake Reduced by Wellington Management Group LLP

Wellington Management Group LLP trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,603,499 shares of the company’s stock after selling 350,986 shares during the quarter. Wellington Management Group LLP’s holdings in Constellation Brands were worth $670,896,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. New Millennium Group LLC acquired a new position in Constellation Brands in the second quarter worth approximately $25,000. Horizon Bancorp Inc. IN acquired a new stake in shares of Constellation Brands during the second quarter worth $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at $36,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Constellation Brands in the 2nd quarter valued at $36,000. Finally, Wellington Shields & Co. LLC increased its stake in Constellation Brands by 50.0% in the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE STZ opened at $238.99 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 $43.39 billion, a PE ratio of 77.34, a price-to-earnings-growth ratio of 1.67 and a beta of 1.75. Constellation Brands, Inc. has a 12-month low of $224.76 and a 12-month high of $274.87. The company has a 50 day moving average price of $240.49 and a two-hundred day moving average price of $246.35.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. The business 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%. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.70 EPS. As a group, equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

Insider Transactions at Constellation Brands

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at approximately $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. TD Cowen lowered shares of Constellation Brands from a “buy” rating to a “hold” rating and reduced their price objective for the company from $300.00 to $270.00 in a research note on Tuesday, October 8th. UBS Group cut their price target on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. decreased their price objective on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating for the company in a research note on Friday, October 4th. Truist Financial cut their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Finally, Wells Fargo & Company reduced their target price on Constellation Brands from $300.00 to $295.00 and set an “overweight” rating for the company in a report on Tuesday, November 26th. Five equities research 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 stock has an average rating of “Moderate Buy” and a consensus price target of $288.70.

Constellation Brands Company 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.