Calamos Advisors LLC Reduces Position in Constellation Brands, Inc. (NYSE:STZ)

Calamos Advisors LLC lessened its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 30.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 81,156 shares of the company’s stock after selling 36,123 shares during the quarter. Calamos Advisors LLC’s holdings in Constellation Brands were worth $17,935,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in STZ. Union Bancaire Privee UBP SA acquired a new position in shares of Constellation Brands in the fourth quarter valued at approximately $28,000. Versant Capital Management Inc raised its holdings in Constellation Brands by 887.5% during the fourth quarter. Versant Capital Management Inc now owns 158 shares of the company’s stock worth $35,000 after purchasing an additional 142 shares in the last quarter. Eastern Bank acquired a new stake in Constellation Brands in the third quarter valued at about $39,000. FSA Wealth Management LLC purchased a new stake in Constellation Brands in the 3rd quarter valued at approximately $42,000. Finally, Truvestments Capital LLC purchased a new position in shares of Constellation Brands during the 3rd quarter worth approximately $60,000. Hedge funds and other institutional investors own 77.34% of the company’s stock.

Insider Buying and Selling

In related news, Director William T. Giles purchased 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average cost of $186.39 per share, with a total value of $186,390.00. Following the completion of the purchase, the director now directly owns 1,463 shares in the company, valued at approximately $272,688.57. This represents a 215.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO William A. Newlands sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $243.58, for a total transaction of $6,089,500.00. Following the completion of the sale, the chief executive officer now owns 7,274 shares in the company, valued at approximately $1,771,800.92. This trade represents a 77.46 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,746 shares of company stock worth $15,017,097. 12.19% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. BNP Paribas assumed coverage on shares of Constellation Brands in a research note on Monday, November 25th. They set a “neutral” rating and a $261.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Roth Capital reduced their target price on Constellation Brands from $298.00 to $284.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $203.00 price objective (down previously from $262.00) on shares of Constellation Brands in a research report on Monday, January 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $240.00 target price on shares of Constellation Brands in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $254.29.

Constellation Brands Stock Down 3.6 %

STZ stock opened at $174.31 on Tuesday. Constellation Brands, Inc. has a 1-year low of $166.02 and a 1-year high of $274.87. The firm has a market capitalization of $31.50 billion, a PE ratio of 46.86, a PEG ratio of 1.59 and a beta of 0.90. The business’s 50 day simple moving average is $215.42 and its 200 day simple moving average is $233.76. The company has a current ratio of 1.10, a quick ratio of 0.46 and a debt-to-equity ratio of 1.26.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings results on Friday, January 10th. The company reported $3.25 earnings per share for the quarter, missing analysts’ consensus estimates of $3.33 by ($0.08). Constellation Brands had a net margin of 6.27% and a return on equity of 26.55%. The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the business posted $3.19 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts anticipate that Constellation Brands, Inc. will post 13.52 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be issued a $1.01 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 2.32%. Constellation Brands’s dividend payout ratio is presently 108.60%.

Constellation Brands 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.