MetLife Investment Management LLC Has $10.51 Million Position in Constellation Brands, Inc. (NYSE:STZ)

MetLife Investment Management LLC decreased its stake in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,788 shares of the company's stock after selling 2,126 shares during the period. MetLife Investment Management LLC's holdings in Constellation Brands were worth $10,511,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC purchased a new stake in Constellation Brands in the 3rd quarter worth about $565,000. Glenmede Trust Co. NA increased its position in Constellation Brands by 16.5% during the third quarter. Glenmede Trust Co. NA now owns 3,908 shares of the company's stock worth $1,007,000 after buying an additional 554 shares during the last quarter. Soros Capital Management LLC grew its holdings in Constellation Brands by 22.6% during the third quarter. Soros Capital Management LLC now owns 13,650 shares of the company's stock valued at $3,517,000 after purchasing an additional 2,517 shares during the last quarter. Cadence Bank raised its holdings in Constellation Brands by 1.0% in the 3rd quarter. Cadence Bank now owns 36,388 shares of the company's stock worth $9,377,000 after acquiring an additional 354 shares during the period. Finally, D.A. Davidson & CO. increased its stake in shares of Constellation Brands by 11.2% in the third quarter. D.A. Davidson & CO. now owns 57,087 shares of the company's stock worth $14,711,000 after purchasing an additional 5,747 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group cut their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a "buy" rating for the company in a research report on Monday, September 9th. Evercore ISI cut their price objective on Constellation Brands from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, October 4th. Bank of America reiterated a "neutral" rating and issued a $255.00 target price (down previously from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. Royal Bank of Canada reissued an "outperform" rating and set a $308.00 price target on shares of Constellation Brands in a research note on Tuesday, November 19th. Finally, BMO Capital Markets reduced their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 15th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has a consensus rating of "Moderate Buy" and an average price target of $289.16.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the company's stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. The trade was a 21.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the firm's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares of the company's stock, valued at $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Performance

Shares of Constellation Brands stock traded up $4.88 during trading on Friday, reaching $240.85. The company's stock had a trading volume of 833,709 shares, compared to its average volume of 1,206,769. Constellation Brands, Inc. has a 52 week low of $224.76 and a 52 week high of $274.87. The firm has a market cap of $43.73 billion, a PE ratio of 77.94, a P/E/G ratio of 1.67 and a beta of 1.75. The business's 50-day moving average price is $241.72 and its 200-day moving average price is $246.80. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ - Get Free Report) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts' consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.95 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company earned $3.70 EPS. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th were paid a dividend of $1.01 per share. This represents a $4.04 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands's payout ratio is presently 130.74%.

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.