MML Investors Services LLC Has $13.97 Million Stock Position in Constellation Brands, Inc. (NYSE:STZ)

MML Investors Services LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ - Free Report) by 127.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,207 shares of the company's stock after acquiring an additional 30,333 shares during the quarter. MML Investors Services LLC's holdings in Constellation Brands were worth $13,968,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in Constellation Brands during the 2nd quarter valued at $25,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands during the second quarter valued at about $32,000. Ashton Thomas Private Wealth LLC acquired a new position in Constellation Brands during the second quarter worth about $36,000. Wellington Shields & Co. LLC raised its position in Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company's stock worth $39,000 after acquiring an additional 50 shares in the last quarter. Finally, Eastern Bank acquired a new stake in Constellation Brands in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 77.34% of the company's stock.

Constellation Brands Stock Down 1.1 %

NYSE:STZ traded down $2.76 during mid-day trading on Wednesday, reaching $239.84. The stock had a trading volume of 1,540,370 shares, compared to its average volume of 1,209,827. The business's 50 day moving average is $239.53 and its 200 day moving average is $246.17. Constellation Brands, Inc. has a fifty-two week low of $224.76 and a fifty-two week high of $274.87. The stock has a market cap of $43.55 billion, a P/E ratio of 79.14, a PEG ratio of 1.69 and a beta of 1.75. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53.

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

Constellation Brands Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. Roth Mkm reiterated a "buy" rating and issued a $298.00 target price on shares of Constellation Brands in a report on Friday, October 4th. TD Cowen cut Constellation Brands from a "buy" rating to a "hold" rating and dropped their price target for the company from $300.00 to $270.00 in a report on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Constellation Brands from $307.00 to $293.00 and set an "overweight" rating for the company in a research note on Friday, October 4th. BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They set a "neutral" rating and a $261.00 target price on the stock. Finally, Needham & Company LLC began coverage on Constellation Brands in a research report on Friday, December 6th. They issued a "buy" rating and a $280.00 price target for the company. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $288.70.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the company's stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the completion of the transaction, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,956 shares of company stock valued at $46,058,091 over the last 90 days. 12.19% of the stock is currently owned by company insiders.

Constellation Brands Company 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.