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

Calamos Advisors LLC boosted its holdings in Constellation Brands, Inc. (NYSE:STZ) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,203 shares of the company’s stock after purchasing an additional 531 shares during the period. Calamos Advisors LLC’s holdings in Constellation Brands were worth $38,246,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC lifted its stake in Constellation Brands by 17.2% in the third quarter. Kestra Private Wealth Services LLC now owns 17,218 shares of the company’s stock worth $4,327,000 after purchasing an additional 2,526 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Constellation Brands by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,433 shares of the company’s stock valued at $8,151,000 after acquiring an additional 4,311 shares during the last quarter. Perigon Wealth Management LLC raised its stake in shares of Constellation Brands by 46.0% during the fourth quarter. Perigon Wealth Management LLC now owns 6,012 shares of the company’s stock valued at $1,453,000 after acquiring an additional 1,893 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Constellation Brands by 35.8% during the fourth quarter. CoreCap Advisors LLC now owns 2,002 shares of the company’s stock valued at $484,000 after acquiring an additional 528 shares during the last quarter. Finally, Ascent Wealth Partners LLC bought a new position in Constellation Brands in the fourth quarter worth about $962,000. 77.34% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP James A. Jr. Sabia sold 15,781 shares of the business’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the completion of the sale, the executive vice president now owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 16.19% of the company’s stock.

Constellation Brands Stock Performance

NYSE:STZ traded up $1.37 during trading hours on Thursday, reaching $258.68. The company had a trading volume of 1,160,749 shares, compared to its average volume of 1,274,331. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. Constellation Brands, Inc. has a 52 week low of $221.81 and a 52 week high of $274.87. The firm has a market cap of $47.29 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 1.74 and a beta of 0.97. The firm’s 50 day moving average price is $257.51 and its 200-day moving average price is $247.13.

Constellation Brands (NYSE:STZ) last posted its earnings results on Thursday, April 11th. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.16. Constellation Brands had a net margin of 16.13% and a return on equity of 23.06%. The business had revenue of $2.14 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the firm posted $1.98 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that Constellation Brands, Inc. will post 13.51 EPS for the current year.

Constellation Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.01 per share. This is an increase from Constellation Brands’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $4.04 dividend on an annualized basis and a dividend yield of 1.56%. Constellation Brands’s payout ratio is presently 37.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of Constellation Brands from $294.00 to $295.00 and gave the stock an “overweight” rating in a research note on Monday. UBS Group increased their price target on shares of Constellation Brands from $312.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 12th. Bank of America increased their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Evercore ISI upped their price objective on shares of Constellation Brands from $300.00 to $310.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada upped their price objective on shares of Constellation Brands from $295.00 to $308.00 and gave the stock an “outperform” rating in a report on Friday, April 12th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $298.55.

Constellation Brands Company 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 Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.