Wellington Management Group LLP Sells 637,228 Shares of Constellation Brands, Inc. (NYSE:STZ)

Wellington Management Group LLP lessened its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,966,271 shares of the company's stock after selling 637,228 shares during the quarter. Wellington Management Group LLP owned approximately 1.09% of Constellation Brands worth $434,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of STZ. Clearbridge Investments LLC grew its holdings in Constellation Brands by 3.1% during the fourth quarter. Clearbridge Investments LLC now owns 742,458 shares of the company's stock valued at $164,083,000 after purchasing an additional 22,471 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Constellation Brands during the 4th quarter valued at approximately $4,180,000. Allianz SE purchased a new stake in Constellation Brands in the 4th quarter worth approximately $1,471,000. Allstate Corp purchased a new stake in Constellation Brands in the 4th quarter worth approximately $1,102,000. Finally, Brown Brothers Harriman & Co. raised its stake in Constellation Brands by 4.5% during the 4th quarter. Brown Brothers Harriman & Co. now owns 1,988 shares of the company's stock worth $439,000 after acquiring an additional 86 shares during the period. Institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 4.2 %

STZ traded down $7.70 on Friday, hitting $173.79. The company had a trading volume of 3,176,710 shares, compared to its average volume of 1,648,626. The business's fifty day simple moving average is $177.14 and its 200 day simple moving average is $212.27. 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 12-month low of $160.46 and a 12-month high of $274.87. The company has a market cap of $31.41 billion, a PE ratio of 46.72, a PEG ratio of 1.52 and a beta of 1.75.

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Constellation Brands (NYSE:STZ - Get Free Report) last announced its 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 analysts' expectations of $2.53 billion. During the same quarter last year, the firm posted $3.19 EPS. Constellation Brands's revenue for the quarter was down .3% compared to the same quarter last year. Equities research analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Constellation Brands's dividend payout ratio is currently 108.60%.

Insider Transactions at Constellation Brands

In other news, Director William T. Giles acquired 1,000 shares of Constellation Brands stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the transaction, the director now directly owns 1,463 shares of the company's stock, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 12.19% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STZ. StockNews.com cut shares of Constellation Brands from a "hold" rating to a "sell" rating in a research note on Friday, March 14th. Citigroup lowered Constellation Brands from a "buy" rating to a "neutral" rating and cut their price target for the stock from $260.00 to $200.00 in a research note on Thursday, March 20th. Argus cut Constellation Brands from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Morgan Stanley lowered Constellation Brands from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $220.00 to $202.00 in a research note on Thursday, February 27th. Finally, Evercore ISI decreased their target price on Constellation Brands from $300.00 to $250.00 and set an "outperform" rating on the stock in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Constellation Brands currently has an average rating of "Hold" and an average target price of $244.32.

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.