Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA trimmed its holdings in Constellation Brands, Inc. (NYSE:STZ) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 500,031 shares of the company’s stock after selling 13,246 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Constellation Brands were worth $128,853,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in Constellation Brands by 5.8% in the first quarter. Bessemer Group Inc. now owns 3,551 shares of the company’s stock valued at $965,000 after acquiring an additional 194 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Constellation Brands in the 1st quarter valued at about $201,000. BTG Pactual Global Asset Management Ltd acquired a new stake in shares of Constellation Brands in the 1st quarter valued at about $899,000. Industrial Alliance Investment Management Inc. lifted its position in shares of Constellation Brands by 4.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,049 shares of the company’s stock worth $285,000 after purchasing an additional 44 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in Constellation Brands by 12.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 9,105 shares of the company’s stock worth $2,288,000 after purchasing an additional 974 shares in the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Trading Down 0.5 %

NYSE:STZ opened at $239.66 on Friday. The stock has a market cap of $43.51 billion, a price-to-earnings ratio of 77.56, a PEG ratio of 1.70 and a beta of 0.90. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. Constellation Brands, Inc. has a 1 year low of $224.76 and a 1 year high of $274.87. The business has a fifty day moving average of $243.04 and a 200-day moving average of $247.49.

Constellation Brands (NYSE:STZ) last announced its earnings results on Thursday, October 3rd. The company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the firm posted $3.70 EPS. Constellation Brands’s revenue was up 2.9% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.69%. Constellation Brands’s payout ratio is 130.74%.

Wall Street Analyst Weigh In

A number of research firms have commented on STZ. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 target price on shares of Constellation Brands in a report on Tuesday, November 19th. UBS Group decreased their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a report on Monday, September 9th. Roth Mkm reissued a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, JPMorgan Chase & Co. lowered 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 report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now directly owns 7,274 shares in the company, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were 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 of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands 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.