Cigna Investments Inc. New Decreases Stock Position in Constellation Brands Inc $STZ

Cigna Investments Inc. New cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 16.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,325 shares of the company’s stock after selling 265 shares during the quarter. Cigna Investments Inc. New’s holdings in Constellation Brands were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Arlington Partners LLC bought a new position in shares of Constellation Brands in the second quarter worth approximately $2,333,000. Wesbanco Bank Inc. raised its holdings in Constellation Brands by 10.7% during the 2nd quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company’s stock valued at $7,049,000 after buying an additional 4,204 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Constellation Brands by 36.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company’s stock valued at $560,000 after buying an additional 815 shares during the period. Glenview Trust co grew its holdings in Constellation Brands by 6.8% in the 1st quarter. Glenview Trust co now owns 69,427 shares of the company’s stock worth $12,741,000 after acquiring an additional 4,421 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Constellation Brands by 969.5% in the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company’s stock valued at $13,609,000 after acquiring an additional 75,834 shares during the period. 77.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP James O. Bourdeau sold 821 shares of the business’s stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $169.00, for a total value of $138,749.00. Following the sale, the executive vice president directly owned 9,438 shares of the company’s stock, valued at $1,595,022. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 12.45% of the company’s stock.

Constellation Brands Price Performance

STZ opened at $132.68 on Friday. The company has a current ratio of 1.07, a quick ratio of 0.68 and a debt-to-equity ratio of 1.30. The company has a market cap of $23.39 billion, a price-to-earnings ratio of -55.52, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. The stock has a fifty day simple moving average of $158.05 and a two-hundred day simple moving average of $171.34. Constellation Brands Inc has a 12-month low of $131.20 and a 12-month high of $261.06.

Constellation Brands (NYSE:STZ) last released its earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing analysts’ consensus estimates of $3.45 by ($0.23). The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.57 billion. Constellation Brands had a positive return on equity of 31.41% and a negative net margin of 4.11%.The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.57 earnings per share. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. Research analysts predict that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Wednesday, July 30th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Wednesday, July 30th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.1%. Constellation Brands’s dividend payout ratio (DPR) is currently -170.71%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen dropped their target price on shares of Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a report on Thursday, September 4th. The Goldman Sachs Group cut their price objective on Constellation Brands from $225.00 to $196.00 and set a “buy” rating on the stock in a research report on Tuesday, September 2nd. Sanford C. Bernstein decreased their target price on Constellation Brands from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. Wells Fargo & Company dropped their price target on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Piper Sandler boosted their price objective on shares of Constellation Brands from $165.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, Constellation Brands has a consensus rating of “Hold” and a consensus price target of $191.28.

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.