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

Constellation Brands, Inc. (NYSE:STZ)’s share price reached a new 52-week low on Wednesday after TD Cowen lowered their price target on the stock from $270.00 to $260.00. TD Cowen currently has a hold rating on the stock. Constellation Brands traded as low as $217.47 and last traded at $219.26, with a volume of 78160 shares. The stock had previously closed at $218.51.

STZ has been the subject of several other research reports. Royal Bank of Canada reissued an “outperform” rating and set a $308.00 price target on shares of Constellation Brands in a research report on Tuesday. Truist Financial dropped their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Roth Mkm reissued a “buy” rating and set a $298.00 price target on shares of Constellation Brands in a research report on Friday, October 4th. Evercore ISI lowered their price objective on Constellation Brands from $310.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Finally, Barclays lowered their price objective on Constellation Brands from $300.00 to $282.00 and set an “overweight” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Constellation Brands has a consensus rating of “Moderate Buy” and a consensus target price of $284.75.

Insider Buying and Selling

In related news, EVP Samuel J. Glaetzer sold 1,510 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total value of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares of the company’s stock, valued at $1,220,482.90. The trade was a 23.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Wildstar Partners Llc sold 660 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $241.00, for a total value of $159,060.00. Following the transaction, the insider now directly owns 1,736,884 shares of the company’s stock, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 189,956 shares of company stock worth $46,058,091. 12.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

Several institutional investors have recently made changes to their positions in STZ. Acadian Asset Management LLC grew its holdings in shares of Constellation Brands by 494.8% during the second quarter. Acadian Asset Management LLC now owns 3,789 shares of the company’s stock valued at $973,000 after purchasing an additional 3,152 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in Constellation Brands in the 2nd quarter worth approximately $36,000. Choreo LLC grew its holdings in Constellation Brands by 146.6% in the 2nd quarter. Choreo LLC now owns 6,261 shares of the company’s stock worth $1,606,000 after buying an additional 3,722 shares in the last quarter. Royal London Asset Management Ltd. grew its holdings in Constellation Brands by 0.6% in the 2nd quarter. Royal London Asset Management Ltd. now owns 64,530 shares of the company’s stock worth $16,602,000 after buying an additional 360 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Constellation Brands by 10.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 17,824 shares of the company’s stock worth $4,586,000 after buying an additional 1,677 shares in the last quarter. 77.34% of the stock is owned by institutional investors.

Constellation Brands Price Performance

The firm has a market capitalization of $39.79 billion, a P/E ratio of 70.93, a price-to-earnings-growth ratio of 1.69 and a beta of 1.75. The business has a fifty day moving average of $232.90 and a 200-day moving average of $242.14. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.53 and a current ratio of 1.25.

Constellation Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Shareholders of record on Friday, February 7th will be given a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.84%. Constellation Brands’s dividend payout ratio (DPR) is 130.74%.

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.