Wellington Management Group LLP Sells 915,739 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wellington Management Group LLP cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 36.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,626,605 shares of the company’s stock after selling 915,739 shares during the quarter. Wellington Management Group LLP owned approximately 0.89% of Constellation Brands worth $393,232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STZ. Norges Bank bought a new position in shares of Constellation Brands during the 4th quarter valued at approximately $443,844,000. Darsana Capital Partners LP grew its stake in shares of Constellation Brands by 288.9% during the 3rd quarter. Darsana Capital Partners LP now owns 875,000 shares of the company’s stock valued at $219,914,000 after acquiring an additional 650,000 shares during the period. Boston Partners bought a new position in shares of Constellation Brands during the 4th quarter valued at approximately $156,358,000. International Assets Investment Management LLC grew its stake in shares of Constellation Brands by 24,922.5% during the 4th quarter. International Assets Investment Management LLC now owns 567,010 shares of the company’s stock valued at $137,075,000 after acquiring an additional 564,744 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Constellation Brands by 38.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,403,495 shares of the company’s stock valued at $335,402,000 after acquiring an additional 388,390 shares during the period. 77.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Constellation Brands news, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the sale, the chief executive officer now owns 14,700 shares in the company, valued at $3,844,638. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Constellation Brands news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction on Friday, April 12th. The stock was sold at an average price of $263.63, for a total value of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at $5,512,503.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $261.54, for a total value of $6,538,500.00. Following the completion of the sale, the chief executive officer now owns 14,700 shares in the company, valued at approximately $3,844,638. 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 quarter. Company insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ opened at $262.34 on Tuesday. The stock’s fifty day moving average is $255.28 and its 200 day moving average is $252.23. Constellation Brands, Inc. has a fifty-two week low of $227.50 and a fifty-two week high of $274.87. The firm has a market capitalization of $48.00 billion, a PE ratio of 27.97, a PEG ratio of 1.73 and a beta of 0.89. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, April 11th. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.16. Constellation Brands had a return on equity of 23.06% and a net margin of 16.13%. The company had revenue of $2.14 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same quarter in the prior year, the firm posted $1.98 EPS. Constellation Brands’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Constellation Brands, Inc. will post 13.53 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, May 3rd were paid a $1.01 dividend. This is a positive change from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a yield of 1.54%. Constellation Brands’s dividend payout ratio (DPR) is presently 43.07%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. UBS Group boosted their price objective on Constellation Brands from $312.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, April 12th. Deutsche Bank Aktiengesellschaft upped their price target on Constellation Brands from $256.00 to $262.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. 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 for the company. HSBC upped their price target on Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Finally, Argus upgraded Constellation Brands from a “hold” rating to a “buy” rating and set a $306.00 price target for the company in a research note on Monday, April 15th. Three research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $298.20.

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.