Massachusetts Financial Services Co. MA Sells 150,468 Shares of Constellation Brands Inc (NYSE:STZ)

Massachusetts Financial Services Co. MA cut its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 30.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 336,225 shares of the company's stock after selling 150,468 shares during the period. Massachusetts Financial Services Co. MA owned 0.19% of Constellation Brands worth $61,704,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in STZ. Piscataqua Savings Bank boosted its stake in shares of Constellation Brands by 1.7% during the first quarter. Piscataqua Savings Bank now owns 3,720 shares of the company's stock valued at $683,000 after purchasing an additional 62 shares in the last quarter. Strategic Financial Concepts LLC increased its stake in shares of Constellation Brands by 5.8% during the first quarter. Strategic Financial Concepts LLC now owns 1,128 shares of the company's stock worth $207,000 after purchasing an additional 62 shares in the last quarter. World Investment Advisors grew its stake in Constellation Brands by 1.7% during the 1st quarter. World Investment Advisors now owns 3,801 shares of the company's stock valued at $698,000 after acquiring an additional 62 shares in the last quarter. Moody National Bank Trust Division grew its stake in shares of Constellation Brands by 0.9% in the 1st quarter. Moody National Bank Trust Division now owns 6,991 shares of the company's stock valued at $1,283,000 after buying an additional 64 shares during the period. Finally, Bessemer Group Inc. lifted its holdings in shares of Constellation Brands by 3.0% in the 1st quarter. Bessemer Group Inc. now owns 2,242 shares of the company's stock worth $412,000 after acquiring an additional 65 shares during the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Up 2.1%

Shares of NYSE:STZ opened at $171.73 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average of $173.86 and a 200-day moving average of $180.18. Constellation Brands Inc has a twelve month low of $159.35 and a twelve month high of $261.06. The firm has a market cap of $30.27 billion, a P/E ratio of -71.85, a P/E/G ratio of 10.18 and a beta of 0.67.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts' consensus estimates of $3.45 by ($0.23). The company had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. Constellation Brands's revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the company earned $3.57 earnings per share. As a group, analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Wednesday, July 30th will be paid a $1.02 dividend. The ex-dividend date is Wednesday, July 30th. This represents a $4.08 annualized dividend and a dividend yield of 2.38%. Constellation Brands's dividend payout ratio (DPR) is presently -170.71%.

Analyst Ratings Changes

A number of research firms recently commented on STZ. DA Davidson dropped their target price on shares of Constellation Brands from $272.00 to $241.00 in a research report on Friday, April 11th. The Goldman Sachs Group set a $225.00 target price on shares of Constellation Brands and gave the stock a "buy" rating in a research report on Friday, June 27th. Cowen reiterated a "hold" rating on shares of Constellation Brands in a research note on Monday, July 7th. UBS Group increased their target price on shares of Constellation Brands from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, Bank of America increased their target price on shares of Constellation Brands from $180.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Eleven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $213.74.

Insiders Place Their Bets

In other news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total value of $593,901.00. Following the completion of the transaction, the executive vice president owned 3,126 shares of the company's stock, valued at $589,376.04. This represents a 50.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 12.45% of the stock is owned by corporate 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.

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