Constellation Brands ( STZ +0.70% ) has a long record of paying dividends and delivering returns to shareholders. However, the stock has moved in the opposite direction from the S&P 500 index over the past two years. Over the last 12 months, the stock has declined by 41%, compared to a 12% gain for the S&P 500.

Sales of the company's top beer brands, such as Corona and Modelo, have suffered due to economic pressure on its core customers. Still, the near-term headwinds could provide investors with an excellent opportunity to buy shares at attractive valuations.

What happened to Constellation Brands

Constellation has a strong portfolio of wine, spirits, and beer brands, with the latter accounting for the majority of its annual revenue. It holds the distribution rights to some o

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