Calamos Wealth Management LLC Grows Position in Constellation Brands, Inc. (NYSE:STZ)
Calamos Wealth Management LLC boosted its stake in Constellation Brands, Inc. (NYSE:STZ) by 329.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,941 shares of the company’s stock after purchasing an additional 17,602 shares during the quarter. Calamos Wealth Management LLC’s holdings in Constellation Brands were worth $4,353,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. purchased a new position in shares of Constellation Brands during the third quarter valued at about $25,000. Capital Bank & Trust Co purchased a new stake in Constellation Brands during the 2nd quarter valued at $39,000. NuWave Investment Management LLC boosted its stake in Constellation Brands by 100.9% during the 3rd quarter. NuWave Investment Management LLC now owns 221 shares of the company’s stock valued at $45,000 after purchasing an additional 111 shares during the last quarter. Doyle Wealth Management purchased a new stake in Constellation Brands during the 2nd quarter valued at $51,000. Finally, Horan Capital Advisors LLC. purchased a new stake in Constellation Brands during the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 71.99% of the company’s stock.
NYSE STZ traded up $1.25 during trading on Wednesday, hitting $192.08. The stock had a trading volume of 20,371 shares, compared to its average volume of 1,991,100. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.86 and a current ratio of 1.41. The stock has a market capitalization of $36.10 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 2.65 and a beta of 0.64. Constellation Brands, Inc. has a one year low of $157.14 and a one year high of $214.48. The stock has a 50 day simple moving average of $186.40 and a 200 day simple moving average of $194.34.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 11th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, February 10th. Constellation Brands’s dividend payout ratio is presently 10.02%.
In other news, CFO David Eric Klein sold 36,488 shares of Constellation Brands stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $195.48, for a total transaction of $7,132,674.24. Following the completion of the sale, the chief financial officer now owns 45,380 shares of the company’s stock, valued at $8,870,882.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert Lee Hanson sold 4,056 shares of Constellation Brands stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $195.00, for a total transaction of $790,920.00. Following the sale, the executive vice president now directly owns 8,591 shares of the company’s stock, valued at approximately $1,675,245. The disclosure for this sale can be found here. Insiders own 15.86% of the company’s stock.
Several analysts have commented on STZ shares. Evercore ISI reiterated a “buy” rating and set a $235.00 target price on shares of Constellation Brands in a research note on Wednesday, December 4th. TheStreet downgraded shares of Constellation Brands from a “b” rating to a “c+” rating in a research note on Thursday, October 3rd. Morgan Stanley raised their price objective on shares of Constellation Brands from $208.00 to $211.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 9th. BMO Capital Markets raised their price objective on shares of Constellation Brands from $225.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 17th. Finally, Cowen reissued a “buy” rating and issued a $240.00 price objective on shares of Constellation Brands in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Constellation Brands has an average rating of “Hold” and an average target price of $226.83.
About Constellation Brands
Constellation Brands, Inc, together with its subsidiaries, produces, imports, and markets beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. It provides beer primarily under the Corona Extra, Corona Light, Corona Premier, Corona Familiar Modelo Especial, Modelo Negra, Modelo Chelada, Pacifico, and Victoria brands, as well as Funky Buddha, Four Corners, and Ballast Point brands.
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