Fifth Third Bancorp Boosts Position in Constellation Brands Inc $STZ

Fifth Third Bancorp lifted its holdings in shares of Constellation Brands Inc (NYSE:STZ) by 251.6% in the first quarter, Holdings Channel.com reports. The fund owned 35,503 shares of the company’s stock after purchasing an additional 25,406 shares during the period. Fifth Third Bancorp’s holdings in Constellation Brands were worth $5,325,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STZ. Capital World Investors lifted its holdings in Constellation Brands by 8.3% in the fourth quarter. Capital World Investors now owns 7,238,575 shares of the company’s stock worth $998,740,000 after buying an additional 553,974 shares during the period. State Street Corp lifted its position in Constellation Brands by 5.0% during the 4th quarter. State Street Corp now owns 6,911,369 shares of the company’s stock valued at $953,492,000 after acquiring an additional 329,337 shares during the period. Capital International Investors lifted its position in Constellation Brands by 48.5% during the 4th quarter. Capital International Investors now owns 6,442,600 shares of the company’s stock valued at $888,930,000 after acquiring an additional 2,105,546 shares during the period. Wellington Management Group LLP increased its position in Constellation Brands by 14.0% during the 4th quarter. Wellington Management Group LLP now owns 6,018,653 shares of the company’s stock valued at $830,333,000 after buying an additional 739,393 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Constellation Brands by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 3,739,549 shares of the company’s stock valued at $513,871,000 after buying an additional 54,184 shares during the last quarter. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Activity at Constellation Brands

In related news, EVP James O. Bourdeau sold 4,407 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $143.24, for a total value of $631,258.68. Following the completion of the transaction, the executive vice president owned 9,109 shares of the company’s stock, valued at approximately $1,304,773.16. This trade represents a 32.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.20% of the company’s stock.

Constellation Brands Trading Down 1.9%

Shares of STZ stock opened at $133.16 on Friday. The stock’s 50-day moving average price is $140.50 and its 200-day moving average price is $149.50. Constellation Brands Inc has a 12-month low of $126.45 and a 12-month high of $178.13. The stock has a market capitalization of $22.74 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 4.23 and a beta of 0.39. The company has a current ratio of 0.91, a quick ratio of 0.48 and a debt-to-equity ratio of 1.06.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Tuesday, June 30th. The company reported $3.43 earnings per share for the quarter, missing the consensus estimate of $3.70 by ($0.27). Constellation Brands had a net margin of 18.87% and a return on equity of 25.58%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the business earned $3.22 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Constellation Brands has set its FY 2027 guidance at 11.200-11.900 EPS. Equities research analysts predict that Constellation Brands Inc will post 11.82 EPS for the current fiscal year.

Constellation Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, July 30th will be given a dividend of $1.03 per share. This represents a $4.12 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Thursday, July 30th. Constellation Brands’s dividend payout ratio is currently 39.31%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on STZ. Weiss Ratings reissued a “hold (c-)” rating on shares of Constellation Brands in a research note on Monday, May 4th. Sanford C. Bernstein restated an “outperform” rating on shares of Constellation Brands in a research note on Wednesday, July 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $185.00 price target on shares of Constellation Brands in a report on Thursday, July 2nd. Jefferies Financial Group set a $147.00 price objective on Constellation Brands in a research report on Thursday, July 2nd. Finally, Wells Fargo & Company reduced their price objective on Constellation Brands from $185.00 to $170.00 and set an “overweight” rating for the company in a report on Monday, June 29th. Eleven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Constellation Brands presently has an average rating of “Hold” and a consensus target price of $167.89.

About Constellation Brands

Constellation Brands, Inc is a leading producer and marketer of beer, wine and spirits, with operations spanning production, importation, marketing and distribution. The company’s beverage portfolio includes a range of premium and mainstream wines and spirits alongside major imported beer brands; in the U.S. market Constellation is widely known for its role in bringing Mexican imports such as Corona and Modelo to American consumers. Constellation supplies retail, on‑premise and foodservice channels and supports its brands with national sales and marketing platforms and supply‑chain capabilities.

The company traces its roots to the Canandaigua Wine Company, founded by Marvin Sands in 1945, and evolved through organic growth and acquisition into a diversified beverage company.