Constellation Brands (NYSE:STZ) Sets New 52-Week Low on Analyst Downgrade

Constellation Brands, Inc. (NYSE:STZ)’s share 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 traded. The stock had previously closed at $181.81.

Several other analysts also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Constellation Brands from $280.00 to $220.00 and set an “overweight” rating for the company in a report on Monday. Bank of America reaffirmed a “neutral” rating and issued a $255.00 price target (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. Roth Mkm reiterated a “buy” rating and issued a $298.00 price objective on shares of Constellation Brands in a research note on Friday, October 4th. Piper Sandler decreased their target price on Constellation Brands from $300.00 to $245.00 and set an “overweight” rating for the company in a research note on Monday. Finally, BNP Paribas started coverage on Constellation Brands in a research report on Monday, November 25th. They issued a “neutral” rating and a $261.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

Insider Buying and Selling

In other Constellation Brands news, CEO William A. Newlands sold 7,426 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were 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 directly owns 7,274 shares in the company, valued at $1,725,683.76. The trade was a 50.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Wildstar Partners Llc sold 660 shares of the firm’s 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 sale, the insider now directly 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. Insiders sold 69,172 shares of company stock valued at $16,778,841 over the last quarter. Corporate insiders own 12.19% of the company’s stock.

Institutional Investors Weigh In On Constellation Brands

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in Constellation Brands by 23,184.7% in the 3rd 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 last quarter. State Street Corp increased its stake 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 buying an additional 402,211 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings 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 during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Constellation Brands by 66.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 369,966 shares of the company’s stock worth $81,762,000 after buying an additional 147,457 shares in the last quarter. Finally, NFJ Investment Group LLC lifted its position in Constellation Brands by 617.3% during the 3rd quarter. NFJ Investment Group LLC now owns 108,382 shares of the company’s stock worth $27,929,000 after buying an additional 93,273 shares in the last quarter. 77.34% of the stock is currently owned by institutional investors.

Constellation Brands Trading Down 2.0 %

The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. The stock has a market cap of $33.08 billion, a P/E ratio of 58.96, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The business’s fifty day simple moving average is $229.71 and its 200 day simple moving average is $240.26.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.53 billion. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. Constellation Brands’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period last year, the company earned $3.19 earnings per share. As a group, analysts expect that Constellation Brands, Inc. will post 13.57 EPS for the current 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 given a dividend of $1.01 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.22%. Constellation Brands’s payout ratio is currently 130.74%.

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.