Wellington Management Group LLP Has $434.55 Million Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Wellington Management Group LLP lowered its stake in Constellation Brands, Inc. (NYSE:STZ) by 24.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,966,271 shares of the company’s stock after selling 637,228 shares during the period. Wellington Management Group LLP’s holdings in Constellation Brands were worth $434,546,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STZ. Mainstream Capital Management LLC acquired a new stake in shares of Constellation Brands during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Constellation Brands in the fourth quarter valued at about $26,000. Compagnie Lombard Odier SCmA acquired a new stake in shares of Constellation Brands during the fourth quarter valued at about $27,000. Union Bancaire Privee UBP SA bought a new stake in shares of Constellation Brands during the fourth quarter worth about $28,000. Finally, Versant Capital Management Inc increased its stake in shares of Constellation Brands by 887.5% in the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after buying an additional 142 shares during the period. Institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of $186.39 per share, for a total transaction of $186,390.00. Following the completion of the acquisition, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 12.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Royal Bank of Canada cut their target price on shares of Constellation Brands from $293.00 to $289.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Barclays cut their price target on shares of Constellation Brands from $205.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, March 27th. Morgan Stanley downgraded Constellation Brands from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $220.00 to $202.00 in a report on Thursday, February 27th. Wells Fargo & Company cut their target price on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, TD Cowen lowered their price objective on Constellation Brands from $270.00 to $260.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Trading Down 0.1 %

NYSE STZ opened at $183.51 on Tuesday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $274.87. The business has a 50 day moving average price of $177.18 and a 200-day moving average price of $214.02. The company has a market cap of $33.17 billion, a price-to-earnings ratio of 49.33, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate of $3.33 by ($0.08). The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.19 EPS. As a group, equities analysts expect that Constellation Brands, Inc. will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 2.20%. The ex-dividend date was Friday, February 7th. Constellation Brands’s dividend payout ratio (DPR) is presently 108.60%.

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.