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

Constellation Brands, Inc. (NYSE:STZ) shares 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 a number of other reports. Evercore ISI cut their target price 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. Wells Fargo & Company cut their price objective on Constellation Brands from $295.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. cut their price objective on Constellation Brands from $293.00 to $262.00 and set an “overweight” rating for the company in a research report on Tuesday. Bank of America reiterated 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. Finally, Truist Financial cut their price objective 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. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $284.75.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 36,086 shares of Constellation Brands stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $242.99, for a total transaction of $8,768,537.14. Following the sale, the executive vice president now directly owns 16,042 shares of the company’s stock, valued at $3,898,045.58. This trade represents 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 hyperlink. Also, Director Robert Sands sold 119,274 shares of Constellation Brands stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now directly owns 431,729 shares in the company, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 189,956 shares of company stock valued at $46,058,091. 12.19% of the stock is owned by insiders.

Institutional Investors Weigh In On Constellation Brands

A number of institutional investors have recently added to or reduced their stakes in STZ. Oakworth Capital Inc. raised its stake in shares of Constellation Brands by 4.4% in the third quarter. Oakworth Capital Inc. now owns 989 shares of the company’s stock valued at $255,000 after acquiring an additional 42 shares during the last quarter. PFG Investments LLC raised its stake in shares of Constellation Brands by 3.8% in the third quarter. PFG Investments LLC now owns 1,150 shares of the company’s stock valued at $296,000 after acquiring an additional 42 shares during the last quarter. Brighton Jones LLC raised its stake in shares of Constellation Brands by 4.7% in the second quarter. Brighton Jones LLC now owns 950 shares of the company’s stock valued at $244,000 after acquiring an additional 43 shares during the last quarter. Metis Global Partners LLC raised its stake in shares of Constellation Brands by 0.8% in the third quarter. Metis Global Partners LLC now owns 5,570 shares of the company’s stock valued at $1,435,000 after acquiring an additional 46 shares during the last quarter. Finally, Wellington Shields & Co. LLC raised its stake in shares of Constellation Brands by 50.0% in the second quarter. Wellington Shields & Co. LLC now owns 150 shares of the company’s stock valued at $39,000 after acquiring an additional 50 shares during the last quarter. 77.34% of the stock is owned by institutional investors and hedge funds.

Constellation Brands Stock Up 0.3 %

The business’s 50 day moving average price is $232.90 and its 200-day moving average price is $242.14. 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 company has a market cap of $39.79 billion, a P/E ratio of 70.93, a PEG ratio of 1.69 and a beta of 1.75.

Constellation Brands Announces Dividend

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