Meeder Advisory Services Inc. Has $1.10 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Meeder Advisory Services Inc. trimmed its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 11.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,282 shares of the company’s stock after selling 530 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Constellation Brands were worth $1,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC bought a new position in shares of Constellation Brands during the 2nd quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Constellation Brands in the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in shares of Constellation Brands during the 2nd quarter valued at $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at about $36,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Constellation Brands during the second quarter valued at approximately $36,000. 77.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STZ. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 price target on shares of Constellation Brands in a research note on Friday, October 4th. Evercore ISI dropped their target price on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Morgan Stanley decreased their price objective on shares of Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a report on Monday, August 26th. JPMorgan Chase & Co. lowered 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 note on Friday, October 4th. Finally, 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 report on Friday, October 4th. Four analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $290.47.

Constellation Brands Stock Performance

Shares of Constellation Brands stock opened at $238.06 on Tuesday. Constellation Brands, Inc. has a 12 month low of $224.76 and a 12 month high of $274.87. The stock’s fifty day moving average price is $243.88 and its 200-day moving average price is $247.90. The firm has a market cap of $43.22 billion, a P/E ratio of 77.04, a P/E/G ratio of 1.68 and a beta of 0.90. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating 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 business had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the previous year, the business posted $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts expect that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be given a dividend of $1.01 per share. The ex-dividend date 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 presently 130.74%.

Insider Activity

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of Constellation Brands stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the transaction, the executive vice president now owns 4,970 shares in the company, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 189,296 shares of company stock worth $45,899,031. 12.19% of the stock is currently owned by company insiders.

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.