Constellation Brands (NYSE:STZ) Hits New 12-Month Low - Here's Why

Constellation Brands, Inc. (NYSE:STZ - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $159.91 and last traded at $160.54, with a volume of 1579323 shares. The stock had previously closed at $162.81.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Royal Bank of Canada lowered their price target on Constellation Brands from $289.00 to $233.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their target price on shares of Constellation Brands from $202.00 to $195.00 and set an "equal weight" rating for the company in a research report on Friday, April 11th. Citigroup cut their price objective on Constellation Brands from $200.00 to $190.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Roth Capital lowered their price target on Constellation Brands from $256.00 to $239.00 and set a "buy" rating for the company in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company decreased their price target on Constellation Brands from $230.00 to $210.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Eleven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $220.00.

Constellation Brands Stock Performance

The firm's 50-day moving average price is $183.05 and its two-hundred day moving average price is $190.12. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.46 and a current ratio of 1.10. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 43.16, a PEG ratio of 1.52 and a beta of 1.75.

Constellation Brands (NYSE:STZ - Get Free Report) last issued its quarterly earnings data on Wednesday, April 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.35. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.14 billion. Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.26 EPS. On average, analysts expect that Constellation Brands, Inc. will post 13.5 EPS for the current fiscal year.

Constellation Brands Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Tuesday, April 29th were given a dividend of $1.02 per share. The ex-dividend date was Tuesday, April 29th. This is a positive change from Constellation Brands's previous quarterly dividend of $1.01. This represents a $4.08 annualized dividend and a yield of 2.54%. Constellation Brands's payout ratio is -800.00%.

Insider Transactions at Constellation Brands

In other Constellation Brands news, EVP Samuel J. Glaetzer sold 3,150 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $188.54, for a total transaction of $593,901.00. Following the completion of the transaction, the executive vice president now directly owns 3,126 shares of the company's stock, valued at approximately $589,376.04. This trade represents a 50.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 12.19% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC raised its position in Constellation Brands by 23.0% in the 4th quarter. Brighton Jones LLC now owns 1,001 shares of the company's stock worth $221,000 after purchasing an additional 187 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Constellation Brands by 29.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 16,021 shares of the company's stock worth $3,566,000 after acquiring an additional 3,660 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in Constellation Brands by 2.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 62,773 shares of the company's stock valued at $13,980,000 after purchasing an additional 1,671 shares during the period. V Square Quantitative Management LLC increased its position in Constellation Brands by 11.3% during the fourth quarter. V Square Quantitative Management LLC now owns 1,305 shares of the company's stock worth $288,000 after acquiring an additional 133 shares during the period. Finally, Bank Pictet & Cie Europe AG raised its position in shares of Constellation Brands by 39.7% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 6,096 shares of the company's stock valued at $1,347,000 after buying an additional 1,733 shares in the last quarter. Institutional investors own 77.34% of the company's stock.

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.

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