Constellation Brands, Inc. (NYSE:STZ) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its holdings in Constellation Brands, Inc. (NYSE:STZ) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 102,339 shares of the company’s stock after selling 7,256 shares during the period. Fifth Third Bancorp owned approximately 0.06% of Constellation Brands worth $22,617,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Constellation Brands by 6.0% in the 3rd quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after acquiring an additional 402,211 shares during the period. Janus Henderson Group PLC raised its position in Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after purchasing an additional 21,454 shares during the period. Legal & General Group Plc lifted its stake in shares of Constellation Brands by 5.7% during the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock worth $343,717,000 after purchasing an additional 72,637 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock worth $128,765,000 after purchasing an additional 497,543 shares in the last quarter. Finally, National Pension Service boosted its position in shares of Constellation Brands by 13.6% in the third quarter. National Pension Service now owns 381,755 shares of the company’s stock worth $98,374,000 after buying an additional 45,707 shares during the period. 77.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on STZ shares. UBS Group reduced their price target on Constellation Brands from $265.00 to $223.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Evercore ISI reduced their target price on shares of Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Barclays lowered their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating for the company in a report on Tuesday, January 14th. Piper Sandler cut their price objective on shares of Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Bank of America restated a “neutral” rating and set a $255.00 target price (down from $300.00) on shares of Constellation Brands in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.05.

Constellation Brands Stock Performance

Shares of STZ stock opened at $182.99 on Friday. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average of $221.02 and a two-hundred day moving average of $236.43. The company has a market cap of $33.07 billion, a P/E ratio of 49.19, a PEG ratio of 1.58 and a beta of 0.91. Constellation Brands, Inc. has a 52 week low of $176.51 and a 52 week high of $274.87.

Constellation Brands (NYSE:STZ) last issued its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a return on equity of 26.55% and a net margin of 6.27%. Constellation Brands’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.19 earnings per share. As a group, analysts anticipate that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 21st. Investors of record on Friday, February 7th will be given a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 annualized dividend and a yield of 2.21%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director William T. Giles purchased 1,000 shares of Constellation Brands stock in a transaction on Friday, January 17th. The stock was bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the transaction, the director now owns 1,463 shares of the company’s stock, valued at $272,688.57. The trade was a 215.98 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William A. Newlands sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were 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 in the company, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,172 shares of company stock valued at $16,778,841 in the last ninety days. Company insiders own 12.19% of the company’s stock.

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.