Constellation Brands, Inc. (NYSE:STZ) Position Reduced by Fifth Third Bancorp

Fifth Third Bancorp reduced its position in shares of Constellation Brands, Inc. (NYSE:STZ) by 6.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,339 shares of the company’s stock after selling 7,256 shares during the quarter. Fifth Third Bancorp’s holdings in Constellation Brands were worth $22,617,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STZ. Pflug Koory LLC grew its holdings in Constellation Brands by 3.0% during the fourth quarter. Pflug Koory LLC now owns 5,376 shares of the company’s stock worth $1,188,000 after acquiring an additional 158 shares during the period. Gradient Investments LLC grew its stake in shares of Constellation Brands by 14.8% in the 4th quarter. Gradient Investments LLC now owns 55,988 shares of the company’s stock worth $12,373,000 after purchasing an additional 7,219 shares during the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Constellation Brands by 359.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 5,512 shares of the company’s stock worth $1,218,000 after purchasing an additional 4,312 shares in the last quarter. Neumann Capital Management LLC lifted its stake in Constellation Brands by 2.2% during the fourth quarter. Neumann Capital Management LLC now owns 4,737 shares of the company’s stock valued at $1,047,000 after purchasing an additional 100 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in Constellation Brands by 23.0% during the fourth quarter. Brighton Jones LLC now owns 1,001 shares of the company’s stock worth $221,000 after buying an additional 187 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on STZ. Jefferies Financial Group reiterated a “hold” rating and set a $201.00 price objective (down previously from $310.00) on shares of Constellation Brands in a research report on Monday, January 13th. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a report on Friday, January 10th. UBS Group decreased their target price on shares of Constellation Brands from $265.00 to $223.00 and set a “buy” rating for the company in a report on Friday, January 17th. Finally, Barclays cut their price target on shares of Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $259.05.

Constellation Brands Stock Performance

STZ stock opened at $182.99 on Friday. The company has a market capitalization of $33.07 billion, a price-to-earnings ratio of 49.19, a P/E/G ratio of 1.58 and a beta of 0.91. The firm has a 50 day moving average of $221.02 and a two-hundred day moving average of $236.43. 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, Inc. has a 12 month low of $176.51 and a 12 month high of $274.87.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing the consensus estimate 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 net margin of 6.27% and a return on equity of 26.55%. Constellation Brands’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the business earned $3.19 earnings per share. As a group, equities analysts anticipate that Constellation Brands, Inc. will post 13.52 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

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

Insider Transactions at Constellation Brands

In related news, Director William T. Giles acquired 1,000 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were bought at an average price of $186.39 per share, for a total transaction of $186,390.00. Following the acquisition, the director now owns 1,463 shares in the company, valued at $272,688.57. This trade represents a 215.98 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total transaction of $159,060.00. Following the completion of the sale, the insider now owns 1,736,884 shares of the company’s stock, valued at approximately $418,589,044. The trade was a 0.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,172 shares of company stock worth $16,778,841. 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.