Constellation Brands (NYSE:STZ) Reaches New 12-Month Low – Here’s What Happened

Constellation Brands Inc (NYSE:STZ) shares hit a new 52-week low on Friday . The stock traded as low as $126.84 and last traded at $126.9080, with a volume of 2475811 shares. The stock had previously closed at $127.95.

Analysts Set New Price Targets

A number of analysts have recently issued reports on STZ shares. Sanford C. Bernstein lowered their price objective on shares of Constellation Brands from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. The Goldman Sachs Group decreased their target price on shares of Constellation Brands from $196.00 to $168.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Jefferies Financial Group cut their price target on shares of Constellation Brands from $205.00 to $179.00 and set a “buy” rating on the stock in a research report on Wednesday, September 3rd. Roth Capital restated a “buy” rating and set a $209.00 price objective (down from $239.00) on shares of Constellation Brands in a research note on Wednesday, September 3rd. Finally, UBS Group set a $160.00 target price on Constellation Brands in a research report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Constellation Brands currently has a consensus rating of “Hold” and a consensus price target of $186.44.

Constellation Brands Price Performance

The business has a fifty day moving average of $139.02 and a two-hundred day moving average of $162.05. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.54 and a current ratio of 1.08. The firm has a market capitalization of $22.33 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 0.39 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last released its quarterly earnings data on Thursday, February 23rd. The company reported $3.12 EPS for the quarter. Constellation Brands had a net margin of 11.88% and a return on equity of 29.82%. The firm had revenue of $2.32 billion during the quarter. As a group, research analysts predict that Constellation Brands Inc will post 13.5 EPS for the current fiscal year.

Constellation Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, October 30th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, October 30th. Constellation Brands’s payout ratio is currently 59.56%.

Institutional Trading of Constellation Brands

Hedge funds have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new position in shares of Constellation Brands in the third quarter valued at about $26,000. Zions Bancorporation National Association UT acquired a new position in shares of Constellation Brands during the 1st quarter worth approximately $38,000. Salomon & Ludwin LLC acquired a new position in shares of Constellation Brands during the 3rd quarter worth approximately $30,000. Flaharty Asset Management LLC bought a new position in shares of Constellation Brands during the first quarter worth approximately $39,000. Finally, WPG Advisers LLC acquired a new position in Constellation Brands in the 1st quarter valued at $43,000. 77.34% of the stock is owned by institutional investors and hedge funds.

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.