MML Investors Services LLC Buys 30,333 Shares of Constellation Brands, Inc. (NYSE:STZ)

MML Investors Services LLC boosted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 127.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 54,207 shares of the company’s stock after buying an additional 30,333 shares during the quarter. MML Investors Services LLC’s holdings in Constellation Brands were worth $13,968,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of STZ. New Millennium Group LLC bought a new position in shares of Constellation Brands in the 2nd quarter worth $25,000. Horizon Bancorp Inc. IN acquired a new position in Constellation Brands during the second quarter valued at $32,000. Ashton Thomas Private Wealth LLC acquired a new stake in Constellation Brands during the second quarter worth about $36,000. Wellington Shields & Co. LLC grew its stake in shares of Constellation Brands by 50.0% during the 2nd quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the period. Finally, Eastern Bank purchased a new position in Constellation Brands in the third quarter valued at $39,000. Institutional investors own 77.34% of the company’s stock.

Wall Street Analyst Weigh In

STZ has been the subject of several research reports. Truist Financial cut their price objective on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research note on Friday, October 4th. JPMorgan Chase & Co. decreased their target price on shares of Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. BMO Capital Markets lowered their price target on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. BNP Paribas began coverage on shares of Constellation Brands in a research note on Monday, November 25th. They issued a “neutral” rating and a $261.00 price objective for the company. Finally, Wells Fargo & Company cut their target price on shares of Constellation Brands from $300.00 to $295.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.70.

Insider Buying and Selling

In related news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the completion of the transaction, the director now owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $237.24, for a total transaction of $1,761,744.24. Following the completion of the transaction, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 189,956 shares of company stock valued at $46,058,091 over the last ninety days. Insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

STZ opened at $242.60 on Wednesday. Constellation Brands, Inc. has a 52-week low of $224.76 and a 52-week high of $274.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25. The stock has a 50-day moving average of $239.83 and a 200-day moving average of $246.21. The company has a market cap of $44.05 billion, a PE ratio of 78.51, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $3.70 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently disclosed 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 of this dividend was Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.67%. Constellation Brands’s dividend payout ratio is currently 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.