MML Investors Services LLC Sells 24,289 Shares of Constellation Brands, Inc. (NYSE:STZ)

MML Investors Services LLC trimmed its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 44.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,918 shares of the company's stock after selling 24,289 shares during the quarter. MML Investors Services LLC's holdings in Constellation Brands were worth $6,612,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Constellation Brands during the 4th quarter worth $445,883,000. Vanguard Group Inc. lifted its holdings in shares of Constellation Brands by 13.3% in the fourth quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after purchasing an additional 1,821,969 shares in the last quarter. Van ECK Associates Corp grew its holdings in Constellation Brands by 1,844.7% during the 4th quarter. Van ECK Associates Corp now owns 924,274 shares of the company's stock valued at $204,265,000 after buying an additional 876,745 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC increased its position in Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock worth $542,391,000 after purchasing an additional 736,780 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $105,766,000. Hedge funds and other institutional investors own 77.34% of the company's stock.

Constellation Brands Stock Up 0.7 %

STZ traded up $1.32 on Tuesday, hitting $186.05. 691,291 shares of the company were exchanged, compared to its average volume of 1,707,276. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock's fifty day moving average is $181.15 and its 200-day moving average is $203.97. The company has a market cap of $33.62 billion, a PE ratio of 50.09, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 12 month low of $160.46 and a 12 month high of $265.70.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $2.28 by $0.35. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The business had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.14 billion. During the same quarter in the prior year, the business earned $2.26 EPS. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th will be given a dividend of $1.02 per share. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's payout ratio is currently -800.00%.

Analyst Ratings Changes

A number of research analysts have recently commented on STZ shares. The Goldman Sachs Group dropped their price objective on shares of Constellation Brands from $260.00 to $225.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Truist Financial dropped their target price on Constellation Brands from $255.00 to $190.00 and set a "hold" rating on the stock in a report on Tuesday, January 14th. Jefferies Financial Group restated a "hold" rating and set a $201.00 target price (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. Morgan Stanley lowered their price objective on Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a report on Friday, April 11th. Finally, UBS Group reduced their price objective on Constellation Brands from $265.00 to $223.00 and set a "buy" rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Constellation Brands has an average rating of "Hold" and an average price target of $224.42.

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.