Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. decreased its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,725 shares of the company’s stock after selling 385 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Constellation Brands were worth $702,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in Constellation Brands during the 2nd quarter valued at $119,394,000. Vanguard Group Inc. grew its holdings in shares of Constellation Brands by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after acquiring an additional 462,891 shares during the last quarter. Capital International Sarl lifted its stake in Constellation Brands by 35.9% during the first quarter. Capital International Sarl now owns 10,462 shares of the company’s stock valued at $2,843,000 after buying an additional 2,764 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Constellation Brands by 1.1% during the first quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock valued at $136,711,000 after acquiring an additional 5,302 shares during the period. Finally, Swedbank AB purchased a new stake in shares of Constellation Brands in the 1st quarter valued at approximately $561,000. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STZ has been the subject of a number of research analyst reports. Evercore ISI reduced their price target on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Bank of America restated a “neutral” rating and set a $255.00 price target (down from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. Truist Financial lowered their target price on Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Finally, JPMorgan Chase & Co. dropped their price objective on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Insiders Place Their Bets

In related news, CEO William A. Newlands sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $243.58, for a total value of $6,089,500.00. Following the transaction, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,771,800.92. The trade was a 77.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,296 shares of company stock worth $45,899,031. Company insiders own 12.19% of the company’s stock.

Constellation Brands Trading Down 1.9 %

NYSE STZ opened at $237.51 on Friday. The stock’s fifty day moving average price is $244.13 and its 200-day moving average price is $248.09. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market cap of $43.12 billion, a P/E ratio of 76.86, a P/E/G ratio of 1.70 and a beta of 0.90. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results 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 firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $4.04 annualized dividend and a yield of 1.70%. Constellation Brands’s dividend payout ratio (DPR) is 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.