Constellation Brands (NYSE:STZ) Hits New 12-Month Low – What’s Next?

Constellation Brands, Inc. (NYSE:STZ)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $232.57 and last traded at $233.31, with a volume of 306613 shares trading hands. The stock had previously closed at $235.47.

Analysts Set New Price Targets

Several research firms have recently commented on STZ. JPMorgan Chase & Co. decreased their target price on Constellation Brands from $307.00 to $293.00 and set an “overweight” rating on the stock in a research report on Friday, October 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $308.00 target price on shares of Constellation Brands in a report on Friday, October 4th. Morgan Stanley dropped their price target on Constellation Brands from $305.00 to $280.00 and set an “overweight” rating for the company in a research note on Monday, August 26th. Jefferies Financial Group raised their target price on Constellation Brands from $310.00 to $311.00 and gave the stock a “buy” rating in a research report on Friday, July 5th. Finally, Roth Mkm restated a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.47.

Constellation Brands Stock Down 0.8 %

The business’s 50 day moving average is $245.91 and its 200-day moving average is $250.00. 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 $42.72 billion, a PE ratio of 17.55, a P/E/G ratio of 1.70 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Thursday, October 3rd. The company reported $4.32 EPS for the quarter, beating the consensus estimate of $4.08 by $0.24. Constellation Brands had a net margin of 5.29% and a return on equity of 25.34%. The firm had revenue of $2.92 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the prior year, the firm earned $3.70 EPS. Constellation Brands’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, analysts predict that Constellation Brands, Inc. will post 13.57 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Tuesday, November 5th will be paid a $1.01 dividend. This represents a $4.04 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, November 5th. Constellation Brands’s payout ratio is currently 30.10%.

Insider Activity at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now owns 431,729 shares of the company’s stock, valued at $104,638,157.73. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Samuel J. Glaetzer sold 1,510 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $245.57, for a total transaction of $370,810.70. Following the completion of the sale, the executive vice president now directly owns 4,970 shares in the company, valued at $1,220,482.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Sands sold 119,274 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total transaction of $28,908,439.38. Following the transaction, the director now directly owns 431,729 shares in the company, valued at $104,638,157.73. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,367 shares of company stock valued at $32,539,170. 12.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Constellation Brands

A number of large investors have recently bought and sold shares of STZ. Capital International Investors raised its holdings in shares of Constellation Brands by 39.4% during the first quarter. Capital International Investors now owns 11,685,249 shares of the company’s stock valued at $3,175,583,000 after buying an additional 3,304,709 shares during the last quarter. Capital World Investors increased its stake in shares of Constellation Brands by 8.7% during the first quarter. Capital World Investors now owns 9,040,669 shares of the company’s stock valued at $2,456,892,000 after acquiring an additional 723,549 shares during the period. International Assets Investment Management LLC increased its stake in shares of Constellation Brands by 23,184.7% during the third quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after acquiring an additional 497,543 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Constellation Brands during the second quarter valued at approximately $119,394,000. Finally, Vanguard Group Inc. increased its stake in shares of Constellation Brands by 3.5% during the first quarter. Vanguard Group Inc. now owns 13,705,793 shares of the company’s stock valued at $3,724,686,000 after acquiring an additional 462,891 shares during the period. Institutional investors own 77.34% of the company’s stock.

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.