Massachusetts Financial Services Co. MA Has $126.89 Million Position in Constellation Brands, Inc. (NYSE:STZ)

Massachusetts Financial Services Co. MA lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZFree Report) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 504,879 shares of the company’s stock after selling 16,209 shares during the period. Massachusetts Financial Services Co. MA owned 0.27% of Constellation Brands worth $126,891,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Indiana Trust & Investment Management CO bought a new position in Constellation Brands during the third quarter worth $25,000. Impact Partnership Wealth LLC grew its stake in Constellation Brands by 1,175.0% in the 3rd quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in Constellation Brands in the 4th quarter valued at about $34,000. First Financial Corp IN bought a new position in Constellation Brands in the 3rd quarter valued at about $40,000. Finally, Chilton Capital Management LLC bought a new stake in shares of Constellation Brands during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 88.99% of the company’s stock.

Analyst Ratings Changes

STZ has been the subject of several research reports. Argus cut Constellation Brands from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. TheStreet lowered shares of Constellation Brands from a “b” rating to a “c+” rating in a research report on Friday, January 5th. Jefferies Financial Group started coverage on shares of Constellation Brands in a report on Monday, November 13th. They issued a “buy” rating and a $292.00 price objective for the company. Finally, JPMorgan Chase & Co. lowered their target price on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating on the stock in a report on Thursday, December 21st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands has an average rating of “Moderate Buy” and a consensus price target of $289.24.

View Our Latest Research Report on STZ

Constellation Brands Trading Down 1.3 %

Shares of Constellation Brands stock opened at $244.42 on Thursday. The firm’s 50 day moving average is $245.01 and its 200 day moving average is $248.86. The firm has a market capitalization of $44.68 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.93 and a beta of 0.96. Constellation Brands, Inc. has a 1 year low of $210.15 and a 1 year high of $273.65. The company has a current ratio of 1.05, a quick ratio of 0.46 and a debt-to-equity ratio of 1.05.

Constellation Brands (NYSE:STZGet Free Report) last announced its quarterly earnings results on Friday, January 5th. The company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.03 by $0.16. Constellation Brands had a return on equity of 23.35% and a net margin of 14.76%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the company earned $2.83 EPS. Constellation Brands’s revenue was up 1.4% compared to the same quarter last year. Equities research analysts forecast that Constellation Brands, Inc. will post 11.88 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Investors of record on Thursday, February 8th will be issued a $0.89 dividend. The ex-dividend date is Wednesday, February 7th. This represents a $3.56 dividend on an annualized basis and a yield of 1.46%. Constellation Brands’s payout ratio is 42.13%.

Insider Transactions at Constellation Brands

In other news, major shareholder Family Foundation Sands sold 354,616 shares of the company’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $250.26, for a total value of $88,746,200.16. Following the sale, the insider now directly owns 54,461 shares of the company’s stock, valued at approximately $13,629,409.86. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 16.19% of the stock is owned by corporate insiders.

Constellation Brands Company Profile

(Free Report)

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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.

Further Reading

Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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