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

Massachusetts Financial Services Co. MA lowered its holdings in Constellation Brands, Inc. (NYSE:STZ) by 1.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 513,277 shares of the company’s stock after selling 7,991 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.28% of Constellation Brands worth $132,056,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in Constellation Brands during the 2nd quarter worth about $57,000. Prime Capital Investment Advisors LLC grew its holdings in Constellation Brands by 2.6% during the second quarter. Prime Capital Investment Advisors LLC now owns 20,116 shares of the company’s stock worth $5,176,000 after acquiring an additional 501 shares during the period. Plato Investment Management Ltd raised its position in Constellation Brands by 5.9% during the second quarter. Plato Investment Management Ltd now owns 7,137 shares of the company’s stock valued at $1,836,000 after acquiring an additional 395 shares in the last quarter. WINTON GROUP Ltd purchased a new stake in Constellation Brands in the 2nd quarter worth approximately $2,337,000. Finally, Envestnet Asset Management Inc. boosted its position in Constellation Brands by 15.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 403,474 shares of the company’s stock worth $103,806,000 after purchasing an additional 52,694 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Price Performance

NYSE:STZ opened at $251.00 on Thursday. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The stock has a market cap of $45.93 billion, a PE ratio of 18.70, a P/E/G ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.53 and a current ratio of 1.19. The stock has a 50 day moving average price of $245.88 and a 200 day moving average price of $253.94.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping the consensus estimate of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the previous year, the firm earned $2.91 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.53 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th were issued a dividend of $1.01 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.61%. Constellation Brands’s dividend payout ratio is currently 30.10%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STZ. UBS Group decreased their target price on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Roth Mkm dropped their target price on Constellation Brands from $303.00 to $298.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Jefferies Financial Group lifted their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. BMO Capital Markets reiterated an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Finally, Morgan Stanley cut their price objective on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus price target of $296.78.

Insider Activity

In related news, EVP Kaneenat Kristann Carey sold 977 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Daniel J. Mccarthy sold 1,854 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $252.43, for a total transaction of $468,005.22. Following the completion of the transaction, the director now owns 3,232 shares of the company’s stock, valued at approximately $815,853.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $261.00, for a total value of $254,997.00. Following the completion of the sale, the executive vice president now directly owns 2,706 shares in the company, valued at approximately $706,266. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,414 shares of company stock valued at $3,982,922. 12.19% of the stock is currently owned by company insiders.

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.