Wellington Management Group LLP Sells 2,813,266 Shares of Constellation Brands Inc $STZ

Wellington Management Group LLP cut its position in shares of Constellation Brands Inc (NYSE:STZ) by 42.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,817,651 shares of the company’s stock after selling 2,813,266 shares during the quarter. Wellington Management Group LLP’s holdings in Constellation Brands were worth $530,997,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Archer Investment Corp purchased a new position in shares of Constellation Brands in the 2nd quarter worth approximately $80,000. Public Employees Retirement System of Ohio bought a new stake in Constellation Brands during the second quarter worth $11,193,000. Ancora Advisors LLC purchased a new position in Constellation Brands in the second quarter worth $248,000. Manning & Napier Advisors LLC bought a new position in Constellation Brands in the 2nd quarter valued at $799,000. Finally, Ally Financial Inc. purchased a new stake in shares of Constellation Brands during the 2nd quarter valued at $1,600,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Trading Down 0.7%

Shares of Constellation Brands stock opened at $130.57 on Friday. The company’s 50-day moving average price is $134.30 and its 200-day moving average price is $145.16. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $168.60. The company has a market cap of $22.30 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 4.07 and a beta of 0.40.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Tuesday, June 30th. The company reported $3.43 EPS for the quarter, missing the consensus estimate of $3.70 by ($0.27). Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the firm posted $3.22 EPS. Constellation Brands’s revenue was down 3.3% on a year-over-year basis. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. On average, equities analysts expect that Constellation Brands Inc will post 11.84 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th were issued a $1.03 dividend. The ex-dividend date of this dividend was Thursday, July 30th. This represents a $4.12 annualized dividend and a dividend yield of 3.2%. Constellation Brands’s dividend payout ratio is presently 39.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their target price on Constellation Brands from $183.00 to $158.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 2nd. Wells Fargo & Company decreased their price objective on shares of Constellation Brands from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Constellation Brands from $155.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday, July 2nd. JPMorgan Chase & Co. dropped their target price on shares of Constellation Brands from $169.00 to $165.00 and set a “neutral” rating on the stock in a research note on Thursday, July 2nd. Finally, Piper Sandler restated a “neutral” rating and set a $160.00 price target on shares of Constellation Brands in a research note on Wednesday, July 1st. Eleven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $167.53.

Constellation Brands Company Profile

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.