Constellation Brands (NYSE:STZ) Sets New 12-Month Low on Analyst Downgrade

Constellation Brands, Inc. (NYSE:STZ)’s stock price hit a new 52-week low during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $255.00 to $190.00. Truist Financial currently has a hold rating on the stock. Constellation Brands traded as low as $176.51 and last traded at $185.84, with a volume of 5460613 shares trading hands. The stock had previously closed at $181.81.

Other research analysts have also issued reports about the company. Evercore ISI reduced their target price on Constellation Brands from $300.00 to $250.00 and set an “outperform” rating on the stock in a research report on Monday. Argus lowered Constellation Brands from a “buy” rating to a “hold” rating in a research report on Tuesday. Piper Sandler cut their price objective on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating on the stock in a report on Monday. Barclays cut their price objective on Constellation Brands from $282.00 to $214.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $201.00 price objective (down from $310.00) on shares of Constellation Brands in a report on Monday. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average price target of $261.40.

Insider Buying and Selling

In other Constellation Brands news, major shareholder Wildstar Partners Llc sold 660 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $241.00, for a total transaction of $159,060.00. Following the transaction, the insider now owns 1,736,884 shares in the company, valued at approximately $418,589,044. This represents a 0.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO William A. Newlands sold 7,426 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the transaction, the chief executive officer now owns 7,274 shares in the company, valued at $1,725,683.76. This represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,172 shares of company stock valued at $16,778,841 over the last ninety days. Company insiders own 12.19% of the company’s stock.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Constellation Brands by 6.0% in the third quarter. State Street Corp now owns 7,144,428 shares of the company’s stock valued at $1,841,048,000 after purchasing an additional 402,211 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Constellation Brands by 1.2% in the third quarter. Janus Henderson Group PLC now owns 1,853,081 shares of the company’s stock valued at $477,515,000 after buying an additional 21,454 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Constellation Brands by 5.7% in the second quarter. Legal & General Group Plc now owns 1,335,976 shares of the company’s stock valued at $343,717,000 after buying an additional 72,637 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Constellation Brands by 31.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock valued at $257,865,000 after buying an additional 241,982 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in Constellation Brands by 23,184.7% in the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares during the period. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Performance

The stock has a market capitalization of $32.83 billion, a PE ratio of 58.52, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The stock has a fifty day moving average of $229.71 and a 200-day moving average of $240.26. 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 announced its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). The business had revenue of $2.46 billion for 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 firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $3.19 earnings per share. Equities analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current fiscal year.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Friday, February 7th. Constellation Brands’s payout ratio is currently 108.60%.

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.