MML Investors Services LLC Has $6.61 Million Position in Constellation Brands, Inc. (NYSE:STZ)

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

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 during the period. Capital World Investors raised its stake in Constellation Brands by 3.4% in the fourth quarter. Capital World Investors now owns 9,755,602 shares of the company's stock worth $2,155,946,000 after buying an additional 324,690 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Constellation Brands by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 3,204,003 shares of the company's stock worth $705,844,000 after acquiring an additional 63,323 shares in the last quarter. Capital Research Global Investors boosted its position in Constellation Brands by 0.6% during the fourth quarter. Capital Research Global Investors now owns 2,901,975 shares of the company's stock valued at $641,336,000 after purchasing an additional 18,557 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in Constellation Brands by 42.9% during the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after acquiring an additional 736,780 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Stock Up 0.0 %

Shares of STZ traded up $0.05 during trading hours on Wednesday, reaching $186.33. The company's stock had a trading volume of 178,079 shares, compared to its average volume of 1,708,408. The company has a 50 day moving average of $181.43 and a two-hundred day moving average of $203.85. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. Constellation Brands, Inc. has a 1-year low of $160.46 and a 1-year high of $265.70. The firm has a market cap of $33.67 billion, a price-to-earnings ratio of 50.04, a P/E/G ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. As a group, research analysts predict that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be given a $1.02 dividend. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, April 29th. Constellation Brands's dividend payout ratio (DPR) is currently -800.00%.

Analyst Upgrades and Downgrades

STZ has been the topic of several recent research reports. Piper Sandler downgraded shares of Constellation Brands from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $245.00 to $200.00 in a report on Monday, February 3rd. StockNews.com cut Constellation Brands from a "hold" rating to a "sell" rating in a report on Thursday, April 17th. The Goldman Sachs Group dropped their price target 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. Citigroup decreased their target price on shares of Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, TD Cowen lowered their target price on Constellation Brands from $270.00 to $260.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $224.42.

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.