Constellation Brands, Inc. (NYSE:STZ) Position Lessened by Cigna Investments Inc. New

02 Nov 2024, 06:07 by Jessica Moore · The Cerbat Gem

Cigna Investments Inc. New lowered its position in Constellation Brands, Inc. (NYSE:STZ – Free Report) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,648 shares of the company’s stock after selling 58 shares during the quarter. Cigna Investments Inc. New’s holdings in Constellation Brands were worth $425,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of STZ. Manning & Napier Advisors LLC bought a new stake in shares of Constellation Brands in the 2nd quarter valued at approximately $119,394,000. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock worth $3,724,686,000 after purchasing an additional 462,891 shares during the last quarter. Howland Capital Management LLC raised its holdings in shares of Constellation Brands by 3.0% during the 1st quarter. Howland Capital Management LLC now owns 141,314 shares of the company’s stock valued at $38,403,000 after purchasing an additional 4,051 shares in the last quarter. Capital International Sarl boosted its holdings in Constellation Brands by 35.9% in the first quarter. Capital International Sarl now owns 10,462 shares of the company’s stock worth $2,843,000 after purchasing an additional 2,764 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Constellation Brands by 1.1% during the first quarter. Clearbridge Investments LLC now owns 503,058 shares of the company’s stock worth $136,711,000 after buying an additional 5,302 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Constellation Brands

In other news, Director Robert Sands sold 119,274 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares of the company’s stock, valued at $104,638,157.73. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Constellation Brands news, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction on Wednesday, October 16th. The shares were 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 of the company’s stock, valued at approximately $104,638,157.73. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samuel J. Glaetzer sold 1,510 shares of the company’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at $1,220,482.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,793 shares of company stock valued at $34,300,914. Corporate insiders own 12.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on STZ shares. Barclays reduced their price target on Constellation Brands from $309.00 to $300.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Jefferies Financial Group increased their price target on Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a report on Friday, July 5th. UBS Group reduced their price objective on shares of Constellation Brands from $320.00 to $295.00 and set a “buy” rating for the company in a research note on Monday, September 9th. Evercore ISI lowered their target price on shares of Constellation Brands from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, October 4th. Finally, Roth Mkm reissued a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.47.

Check Out Our Latest Research Report on STZ

Constellation Brands Price Performance

NYSE:STZ opened at $232.77 on Friday. 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 company has a 50-day moving average of $245.43 and a 200-day moving average of $249.70. Constellation Brands, Inc. has a 52 week low of $231.70 and a 52 week high of $274.87. The company has a market capitalization of $42.26 billion, a price-to-earnings ratio of 75.33, a PEG ratio of 1.66 and a beta of 0.88.

Constellation Brands (NYSE:STZ – Get Free Report) last announced its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, topping analysts’ consensus estimates of $4.08 by $0.24. The firm had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the company earned $3.70 earnings per share. As a group, equities research analysts anticipate 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 will be paid on Thursday, November 21st. Shareholders of record on Tuesday, November 5th will be paid 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 1.74%. Constellation Brands’s dividend payout ratio is 130.74%.

Constellation Brands Profile

(Free Report)

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.