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

Constellation Brands, Inc. (NYSE:STZ) 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.

STZ has been the topic of a number of other reports. TD Cowen reduced their price objective on shares of Constellation Brands from $270.00 to $260.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $280.00 price objective on shares of Constellation Brands in a research note on Friday, January 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a research note on Tuesday, January 7th. Roth Mkm restated a “buy” rating and set a $298.00 target price on shares of Constellation Brands in a research report on Friday, October 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $201.00 price target (down from $310.00) on shares of Constellation Brands in a research note on Monday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

Insider Activity at Constellation Brands

In other Constellation Brands news, 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 value of $159,060.00. Following the completion of the transaction, the insider now directly owns 1,736,884 shares in the company, valued at $418,589,044. This trade represents a 0.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO William A. Newlands sold 7,426 shares of the business’s 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 directly owns 7,274 shares in the company, valued at $1,725,683.76. This trade represents a 50.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 69,172 shares of company stock valued at $16,778,841. 12.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Constellation Brands

Several hedge funds and other institutional investors have recently made changes to their positions in STZ. Radnor Capital Management LLC lifted its stake in Constellation Brands by 2.0% in the fourth quarter. Radnor Capital Management LLC now owns 7,054 shares of the company’s stock valued at $1,559,000 after acquiring an additional 135 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Constellation Brands by 347.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 582 shares of the company’s stock valued at $129,000 after purchasing an additional 452 shares during the period. Park Avenue Securities LLC lifted its stake in Constellation Brands by 28.2% in the 4th quarter. Park Avenue Securities LLC now owns 5,590 shares of the company’s stock valued at $1,235,000 after purchasing an additional 1,228 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Constellation Brands by 17.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 137,674 shares of the company’s stock valued at $30,426,000 after purchasing an additional 20,836 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in Constellation Brands during the fourth quarter worth approximately $751,000. 77.34% of the stock is owned by institutional investors.

Constellation Brands Trading Down 2.0 %

The company has a debt-to-equity ratio of 1.31, a current ratio of 1.25 and a quick ratio of 0.53. The business has a 50-day simple moving average of $229.71 and a two-hundred day simple moving average of $240.26. The stock has a market cap of $33.08 billion, a price-to-earnings ratio of 58.96, a P/E/G ratio of 1.69 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Constellation Brands, Inc. will post 13.57 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be paid a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, February 7th. Constellation Brands’s dividend payout ratio is presently 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.