Calamos Advisors LLC Sells 17,412 Shares of Constellation Brands, Inc. (NYSE:STZ)

Calamos Advisors LLC lessened its holdings in Constellation Brands, Inc. (NYSE:STZ) by 12.7% in the second quarter, Holdings Channel reports. The institutional investor owned 119,344 shares of the company’s stock after selling 17,412 shares during the period. Calamos Advisors LLC’s holdings in Constellation Brands were worth $30,705,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Constellation Brands during the 2nd quarter worth approximately $29,000. Horizon Bancorp Inc. IN bought a new position in Constellation Brands during the 2nd quarter worth approximately $32,000. YHB Investment Advisors Inc. bought a new position in Constellation Brands during the 1st quarter worth approximately $35,000. First Financial Corp IN bought a new position in Constellation Brands during the 1st quarter worth approximately $35,000. Finally, LRI Investments LLC bought a new position in Constellation Brands during the 1st quarter worth approximately $37,000. Institutional investors own 77.34% of the company’s stock.

Constellation Brands Stock Up 0.6 %

NYSE STZ traded up $1.48 during mid-day trading on Friday, hitting $245.18. The company’s stock had a trading volume of 637,081 shares, compared to its average volume of 1,175,121. The company’s 50 day simple moving average is $250.01 and its 200 day simple moving average is $253.84. Constellation Brands, Inc. has a twelve month low of $227.50 and a twelve month high of $274.87. The company has a current ratio of 1.19, a quick ratio of 0.53 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $44.86 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.62 and a beta of 1.75.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Wednesday, July 3rd. The company reported $3.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.67 billion. Constellation Brands had a net margin of 22.70% and a return on equity of 23.72%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.91 EPS. Analysts anticipate that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 14th were issued a dividend of $1.01 per share. This represents a $4.04 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend was Wednesday, August 14th. Constellation Brands’s dividend payout ratio is 30.10%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STZ shares. JPMorgan Chase & Co. raised their price target on shares of Constellation Brands from $291.00 to $320.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. Roth Mkm lowered their price objective on shares of Constellation Brands from $305.00 to $303.00 and set a “buy” rating for the company in a research note on Friday, July 5th. Jefferies Financial Group lifted their price objective on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research note on Friday, July 5th. BMO Capital Markets reiterated an “outperform” rating and issued a $315.00 price objective on shares of Constellation Brands in a research note on Friday, July 5th. Finally, Barclays lifted their price objective on shares of Constellation Brands from $287.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $300.28.

Insiders Place Their Bets

In other Constellation Brands news, EVP Kaneenat Kristann Carey sold 977 shares of Constellation Brands stock in a transaction on Friday, July 12th. The shares were sold at an average price of $261.00, for a total transaction of $254,997.00. Following the transaction, the executive vice president now directly owns 2,706 shares of the company’s stock, valued at approximately $706,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Garth Hankinson sold 13,583 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $240.00, for a total value of $3,259,920.00. Following the transaction, the chief financial officer now directly owns 11,702 shares of the company’s stock, valued at approximately $2,808,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kaneenat Kristann Carey sold 977 shares of the business’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $261.00, for a total transaction of $254,997.00. Following the completion of the transaction, the executive vice president now directly owns 2,706 shares in the company, valued at $706,266. The disclosure for this sale can be found here. Insiders have sold 16,414 shares of company stock valued at $3,982,922 in the last three months. 12.19% of the stock is currently owned by insiders.

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 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.