Fifth Third Bancorp Sells 20,696 Shares of Constellation Brands Inc $STZ

Key Points

• Fifth Third Bancorp has reduced its stake in Constellation Brands Inc by 68.4%, selling 20,696 shares and now holds 9,576 shares valued at approximately $1.56 million.
• Constellation Brands reported a decrease in revenue by 5.5% year-over-year and reported earnings per share of $3.22, missing expectations by $0.23.
• The company recently declared a quarterly dividend of $1.02 per share, resulting in an annualized dividend yield of 3.1%.

Fifth Third Bancorp cut its stake in Constellation Brands Inc (NYSE:STZ - Free Report) by 68.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,576 shares of the company's stock after selling 20,696 shares during the period. Fifth Third Bancorp's holdings in Constellation Brands were worth $1,558,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STZ. Arlington Partners LLC purchased a new stake in shares of Constellation Brands during the second quarter worth about $2,333,000. Wesbanco Bank Inc. boosted its holdings in shares of Constellation Brands by 10.7% during the second quarter. Wesbanco Bank Inc. now owns 43,329 shares of the company's stock worth $7,049,000 after purchasing an additional 4,204 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in shares of Constellation Brands by 36.4% during the first quarter. Harbor Capital Advisors Inc. now owns 3,051 shares of the company's stock worth $560,000 after purchasing an additional 815 shares during the period. Glenview Trust co boosted its holdings in shares of Constellation Brands by 6.8% during the first quarter. Glenview Trust co now owns 69,427 shares of the company's stock worth $12,741,000 after purchasing an additional 4,421 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Constellation Brands by 969.5% during the second quarter. Assenagon Asset Management S.A. now owns 83,656 shares of the company's stock worth $13,609,000 after purchasing an additional 75,834 shares during the period. 77.34% of the stock is currently owned by hedge funds and other institutional investors.

Constellation Brands Price Performance

Shares of STZ opened at $132.42 on Friday. The company has a market capitalization of $23.34 billion, a P/E ratio of -55.41, a price-to-earnings-growth ratio of 0.40 and a beta of 0.67. The company has a quick ratio of 0.68, a current ratio of 1.07 and a debt-to-equity ratio of 1.30. The firm has a 50 day moving average of $157.28 and a 200 day moving average of $170.89. Constellation Brands Inc has a twelve month low of $131.20 and a twelve month high of $261.06.

Constellation Brands (NYSE:STZ - Get Free Report) last announced its quarterly earnings results on Tuesday, July 1st. The company reported $3.22 earnings per share for the quarter, missing the consensus estimate of $3.45 by ($0.23). The firm had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.57 billion. Constellation Brands had a negative net margin of 4.11% and a positive return on equity of 31.41%. Constellation Brands's revenue was down 5.5% on a year-over-year basis. During the same period last year, the business earned $3.57 EPS. Constellation Brands has set its FY 2026 guidance at 12.600-12.900 EPS. As a group, equities research analysts anticipate that Constellation Brands Inc will post 13.5 earnings per share for the current fiscal year.

Constellation Brands Dividend Announcement

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

Insider Buying and Selling at Constellation Brands

In related news, EVP James O. Bourdeau sold 821 shares of the firm's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $169.00, for a total transaction of $138,749.00. Following the completion of the sale, the executive vice president owned 9,438 shares of the company's stock, valued at $1,595,022. This trade represents a 8.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.45% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on STZ. Morgan Stanley lowered their price objective on shares of Constellation Brands from $195.00 to $176.00 and set an "equal weight" rating for the company in a report on Wednesday, September 3rd. Bank of America lowered their price objective on shares of Constellation Brands from $150.00 to $142.00 and set an "underperform" rating for the company in a report on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of Constellation Brands from $170.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 3rd. The Goldman Sachs Group lowered their price objective on shares of Constellation Brands from $225.00 to $196.00 and set a "buy" rating for the company in a report on Tuesday, September 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Constellation Brands from $170.00 to $155.00 and set an "overweight" rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price 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.

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