OneDigital Investment Advisors LLC Reduces Holdings in Constellation Brands, Inc. (NYSE:STZ)

OneDigital Investment Advisors LLC lowered its position in Constellation Brands, Inc. (NYSE:STZ) by 7.0% in the 3rd quarter, Holdings Channel reports. The fund owned 2,391 shares of the company’s stock after selling 180 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Constellation Brands were worth $616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Balboa Wealth Partners purchased a new stake in Constellation Brands in the third quarter worth about $253,000. Neumann Capital Management LLC raised its position in shares of Constellation Brands by 1.8% in the 3rd quarter. Neumann Capital Management LLC now owns 4,637 shares of the company’s stock worth $1,195,000 after purchasing an additional 80 shares during the last quarter. ING Groep NV increased its stake in Constellation Brands by 387.3% during the 3rd quarter. ING Groep NV now owns 90,955 shares of the company’s stock valued at $23,438,000 after purchasing an additional 72,291 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Constellation Brands by 1.3% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,205 shares of the company’s stock valued at $1,084,000 after acquiring an additional 52 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in Constellation Brands by 0.8% in the 3rd quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s 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 completion of the sale, the executive vice president now owns 4,970 shares of the company’s stock, valued at approximately $1,220,482.90. This trade represents a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 in the company, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 189,296 shares of company stock worth $45,899,031 in the last three months. Corporate insiders own 12.19% of the company’s stock.

Constellation Brands Stock Performance

STZ stock opened at $239.72 on Thursday. Constellation Brands, Inc. has a twelve month low of $224.76 and a twelve month high of $274.87. The firm has a market cap of $43.52 billion, a price-to-earnings ratio of 77.58, a PEG ratio of 1.68 and a beta of 1.75. The business’s fifty day simple moving average is $243.51 and its two-hundred day simple moving average is $247.73. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last issued its 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. 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 for the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the prior year, the firm earned $3.70 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is presently 130.74%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STZ shares. Bank of America reaffirmed a “neutral” rating and set a $255.00 price target (down previously from $300.00) on shares of Constellation Brands in a report on Monday, October 7th. UBS Group decreased their target price on Constellation Brands from $320.00 to $295.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Truist Financial decreased their target price on shares of Constellation Brands from $265.00 to $255.00 and set a “hold” rating on the stock in a research note on Friday, October 4th. BMO Capital Markets decreased their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 15th. Finally, Roth Mkm restated a “buy” rating and issued a $298.00 price objective 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $290.47.

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.