Calamos Advisors LLC Cuts Stock Position in Constellation Brands Inc $STZ

Calamos Advisors LLC cut its stake in shares of Constellation Brands Inc (NYSE:STZ) by 11.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 115,990 shares of the company’s stock after selling 14,500 shares during the period. Calamos Advisors LLC’s holdings in Constellation Brands were worth $18,869,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Constellation Brands by 18.6% during the first quarter. Vanguard Group Inc. now owns 18,417,604 shares of the company’s stock worth $3,379,999,000 after purchasing an additional 2,882,817 shares in the last quarter. Wellington Management Group LLP increased its stake in Constellation Brands by 127.9% during the 1st quarter. Wellington Management Group LLP now owns 4,480,788 shares of the company’s stock worth $822,314,000 after buying an additional 2,514,517 shares in the last quarter. Geode Capital Management LLC increased its stake in Constellation Brands by 13.6% during the 2nd quarter. Geode Capital Management LLC now owns 3,737,860 shares of the company’s stock worth $605,293,000 after buying an additional 448,259 shares in the last quarter. Nuveen LLC acquired a new position in shares of Constellation Brands during the first quarter valued at approximately $63,377,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Constellation Brands by 5,058.0% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 285,289 shares of the company’s stock valued at $46,411,000 after acquiring an additional 279,758 shares in the last quarter. Institutional investors and hedge funds own 77.34% of the company’s stock.

Constellation Brands Trading Down 1.0%

STZ opened at $130.43 on Thursday. The stock has a market capitalization of $22.83 billion, a PE ratio of 19.04, a P/E/G ratio of 0.39 and a beta of 1.75. Constellation Brands Inc has a one year low of $126.45 and a one year high of $245.31. 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 business’s 50 day moving average price is $136.95 and its 200 day moving average price is $160.27.

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

Constellation Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, October 30th will be given a $1.02 dividend. The ex-dividend date of this dividend is Thursday, October 30th. This represents a $4.08 dividend on an annualized basis and a yield of 3.1%. Constellation Brands’s dividend payout ratio is presently 59.56%.

Analysts Set New Price Targets

Several analysts recently commented on STZ shares. Deutsche Bank Aktiengesellschaft dropped their price target on Constellation Brands from $182.00 to $158.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. UBS Group set a $160.00 target price on shares of Constellation Brands in a research note on Tuesday, October 7th. Wells Fargo & Company lowered their target price on Constellation Brands from $170.00 to $155.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Jefferies Financial Group cut their price target on Constellation Brands from $205.00 to $179.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Finally, TD Cowen cut their price target on Constellation Brands from $180.00 to $152.00 and set a “hold” rating for the company in a report on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $186.44.

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.