Fifth Third Wealth Advisors LLC Lowers Stock Holdings in Constellation Brands, Inc. (NYSE:STZ)

Fifth Third Wealth Advisors LLC cut its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,281 shares of the company’s stock after selling 342 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Constellation Brands were worth $725,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased its position in Constellation Brands by 887.5% during the 4th quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock valued at $35,000 after purchasing an additional 142 shares during the period. Eastern Bank purchased a new position in Constellation Brands during the third quarter valued at approximately $39,000. FSA Wealth Management LLC bought a new position in Constellation Brands in the third quarter worth approximately $42,000. Truvestments Capital LLC purchased a new stake in Constellation Brands during the third quarter worth $60,000. Finally, Continuum Advisory LLC boosted its position in Constellation Brands by 68.0% during the 3rd quarter. Continuum Advisory LLC now owns 252 shares of the company’s stock valued at $61,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 2.2 %

Shares of STZ opened at $184.66 on Friday. The company has a market capitalization of $33.53 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 1.28 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. The stock’s 50-day moving average price is $228.73 and its 200-day moving average price is $239.85. The company has a quick ratio of 0.53, a current ratio of 1.25 and a debt-to-equity ratio of 1.31.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Friday, January 10th. The company reported $3.25 EPS for the quarter, missing the consensus estimate of $3.33 by ($0.08). The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.19 EPS. On average, sell-side analysts predict that Constellation Brands, Inc. will post 13.72 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. Shareholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a yield of 2.19%. Constellation Brands’s payout ratio is 108.60%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STZ. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down previously from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Morgan Stanley cut their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating on the stock in a research report on Monday. Jefferies Financial Group reissued a “hold” rating and set a $201.00 target price (down previously from $310.00) on shares of Constellation Brands in a research report on Monday. Truist Financial lowered their target price on shares of Constellation Brands from $255.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday. Finally, BMO Capital Markets decreased their price objective on Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Constellation Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

Insiders Place Their Bets

In other news, EVP James A. Jr. Sabia sold 36,086 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $242.99, for a total value of $8,768,537.14. Following the completion of the sale, the executive vice president now directly owns 16,042 shares in the company, valued at $3,898,045.58. The trade was a 69.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 25,000 shares of the stock in a transaction that occurred 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 owns 7,274 shares in the company, valued at $1,771,800.92. This trade represents a 77.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders 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.