Constellation Brands, Inc. (NYSE:STZ) Shares Bought by MetLife Investment Management LLC

MetLife Investment Management LLC lifted its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 41,377 shares of the company’s stock after purchasing an additional 589 shares during the quarter. MetLife Investment Management LLC’s holdings in Constellation Brands were worth $9,144,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norinchukin Bank The grew its stake in shares of Constellation Brands by 8.4% during the fourth quarter. Norinchukin Bank The now owns 6,945 shares of the company’s stock valued at $1,535,000 after acquiring an additional 537 shares in the last quarter. Capital Research Global Investors increased its holdings in Constellation Brands by 0.6% during the 4th quarter. Capital Research Global Investors now owns 2,901,975 shares of the company’s stock worth $641,336,000 after purchasing an additional 18,557 shares during the last quarter. Capital World Investors raised its position in shares of Constellation Brands by 3.4% in the 4th quarter. Capital World Investors now owns 9,755,602 shares of the company’s stock valued at $2,155,946,000 after purchasing an additional 324,690 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Constellation Brands by 21.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,617,641 shares of the company’s stock valued at $357,480,000 after purchasing an additional 284,302 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Constellation Brands by 824.7% during the 4th quarter. First Trust Advisors LP now owns 292,834 shares of the company’s stock valued at $64,716,000 after buying an additional 261,166 shares during the last quarter. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Piper Sandler lowered shares of Constellation Brands from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $245.00 to $200.00 in a research note on Monday, February 3rd. TD Cowen cut their target price on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday, January 13th. The Goldman Sachs Group cut their price objective on Constellation Brands from $260.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, StockNews.com downgraded Constellation Brands from a “hold” rating to a “sell” rating in a report on Thursday, April 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $224.42.

Constellation Brands Trading Up 0.6 %

Shares of NYSE:STZ opened at $187.69 on Tuesday. Constellation Brands, Inc. has a fifty-two week low of $160.46 and a fifty-two week high of $265.70. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The company has a market cap of $33.92 billion, a PE ratio of 50.45, a P/E/G ratio of 1.52 and a beta of 1.75. The company’s 50-day moving average price is $179.10 and its 200 day moving average price is $205.88.

Constellation Brands (NYSE:STZ) last released 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 company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the previous year, the company posted $2.26 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Stockholders of record on Tuesday, April 29th will be paid a $1.02 dividend. This is a boost from Constellation Brands’s previous quarterly dividend of $1.01. The ex-dividend date is Tuesday, April 29th. This represents a $4.08 annualized dividend and a dividend yield of 2.17%. Constellation Brands’s dividend payout ratio is presently -800.00%.

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.