Fifth Third Bancorp Cuts Holdings in Constellation Brands, Inc. (NYSE:STZ)

Fifth Third Bancorp decreased its holdings in shares of Constellation Brands, Inc. (NYSE:STZ - Free Report) by 70.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,272 shares of the company's stock after selling 72,067 shares during the period. Fifth Third Bancorp's holdings in Constellation Brands were worth $5,556,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of STZ. Berkshire Hathaway Inc purchased a new stake in Constellation Brands in the fourth quarter worth about $1,242,976,000. Norges Bank purchased a new position in shares of Constellation Brands during the 4th quarter valued at $445,883,000. Vanguard Group Inc. lifted its stake in shares of Constellation Brands by 13.3% during the 4th quarter. Vanguard Group Inc. now owns 15,534,787 shares of the company's stock valued at $3,433,188,000 after buying an additional 1,821,969 shares in the last quarter. D1 Capital Partners L.P. lifted its stake in shares of Constellation Brands by 186.6% during the 4th quarter. D1 Capital Partners L.P. now owns 1,527,689 shares of the company's stock valued at $337,619,000 after buying an additional 994,639 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Constellation Brands by 42.9% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 2,454,258 shares of the company's stock valued at $542,391,000 after buying an additional 736,780 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

Constellation Brands Trading Down 3.0%

NYSE:STZ traded down $5.12 during mid-day trading on Friday, hitting $164.69. 1,942,365 shares of the stock traded hands, compared to its average volume of 1,815,716. The stock has a market capitalization of $29.32 billion, a price-to-earnings ratio of 44.27, a PEG ratio of 1.52 and a beta of 1.75. Constellation Brands, Inc. has a 52 week low of $160.46 and a 52 week high of $265.70. The firm's 50 day moving average is $183.21 and its two-hundred day moving average is $190.99. The company has a quick ratio of 0.46, a current ratio of 1.10 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings results on Wednesday, April 9th. The company reported $2.63 EPS for the quarter, beating the consensus estimate of $2.28 by $0.35. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 EPS. On average, equities research analysts predict that Constellation Brands, Inc. will post 13.5 earnings per share for the current year.

Constellation Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Tuesday, April 29th were paid a $1.02 dividend. This is an increase from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend was Tuesday, April 29th. Constellation Brands's dividend payout ratio is currently -800.00%.

Analyst Ratings Changes

STZ has been the topic of a number of analyst reports. Truist Financial upgraded shares of Constellation Brands from a "hold" rating to a "buy" rating and lifted their target price for the company from $190.00 to $215.00 in a research note on Wednesday, May 7th. Royal Bank of Canada lowered their target price on shares of Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Roth Capital lowered their target price on shares of Constellation Brands from $256.00 to $239.00 and set a "buy" rating on the stock in a research note on Tuesday, May 20th. Roth Mkm lowered their target price on shares of Constellation Brands from $284.00 to $256.00 and set a "buy" rating on the stock in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company dropped their price objective on shares of Constellation Brands from $230.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $220.00.

Insiders Place Their Bets

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $188.54, for a total value of $593,901.00. Following the transaction, the executive vice president now directly owns 3,126 shares in the company, valued at $589,376.04. This represents a 50.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.19% of the company's stock.

Constellation Brands Company 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.