The answer is NO!
If you go and ask a bunch of pro painters and pro paint vendors this question, you will get a wide variety of answers.
The real/true answer is “no.” Don’t store your paint outside in the winter, in a shed, or anywhere where it is an untempered environment. When paint freezes, it messes up the molecular composition of the paint.
See the picture of a can of paint in our workshop that we bought in November of 2013. I thought I got all the sensitive materials out, but this can was missed and left in a lock box. It is a good quality paint (not cheap either), and it is not old, so it is definitely the cold temps that ruined it!
GL Barnhart Construction ...The Blog 