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

Wellington Management Group LLP lowered its holdings in shares of Constellation Brands, Inc. (NYSE:STZ) by 24.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,966,271 shares of the company’s stock after selling 637,228 shares during the quarter. Wellington Management Group LLP owned 1.09% of Constellation Brands worth $434,546,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Clearbridge Investments LLC lifted its position in Constellation Brands by 3.1% in the 4th quarter. Clearbridge Investments LLC now owns 742,458 shares of the company’s stock valued at $164,083,000 after acquiring an additional 22,471 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Constellation Brands in the 4th quarter valued at about $4,180,000. Allianz SE bought a new stake in shares of Constellation Brands in the fourth quarter valued at about $1,471,000. Allstate Corp acquired a new position in shares of Constellation Brands during the fourth quarter worth about $1,102,000. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Constellation Brands by 4.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company’s stock worth $439,000 after buying an additional 86 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Roth Capital reduced their price target on Constellation Brands from $298.00 to $284.00 and set a “buy” rating for the company in a research report on Friday, January 17th. Piper Sandler cut shares of Constellation Brands from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $245.00 to $200.00 in a report on Monday, February 3rd. Needham & Company LLC decreased their target price on shares of Constellation Brands from $240.00 to $215.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Evercore ISI cut their price target on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada decreased their price objective on Constellation Brands from $293.00 to $289.00 and set an “outperform” rating for the company in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $249.18.

Constellation Brands Price Performance

Constellation Brands stock opened at $183.51 on Tuesday. The firm has a market cap of $33.17 billion, a PE ratio of 49.33, a price-to-earnings-growth ratio of 1.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.10 and a quick ratio of 0.46. The stock’s fifty day moving average price is $177.18 and its two-hundred day moving average price is $214.02. Constellation Brands, Inc. has a one year low of $160.46 and a one year high of $274.87.

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

Constellation Brands Announces Dividend

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

Insider Activity at Constellation Brands

In other Constellation Brands news, Director William T. Giles bought 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The shares were purchased at an average price of $186.39 per share, with a total value of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 12.19% of the stock is currently owned by insiders.

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.