STZ - Constellation Brands, Inc.
179.79 0.00 (0.00%)
After hours: 4:03PM EST
| Previous Close | 181.62 |
| Open | 181.05 |
| Bid | 180.16 x 1800 |
| Ask | 180.22 x 1400 |
| Day's Range | 179.67 - 183.42 |
| 52 Week Range | 150.37 - 214.48 |
| Volume | 782,890 |
| Avg. Volume | 1,140,431 |
| Market Cap | 34B |
| Beta (3Y Monthly) | 0.65 |
| PE Ratio (TTM) | 45.02 |
| EPS (TTM) | 3.99 |
| Earnings Date | Jan. 8, 2020 |
| Forward Dividend & Yield | 3.00 (1.65%) |
| Ex-Dividend Date | 2019-11-07 |
| 1y Target Est | 226.60 |
- Reuters
Constellation pulls brands from E. & J. Gallo deal, price lowered by $600 million
The deal price has now been revised down to about $1.1 billion, of which $250 million is an earnout based on divested brands' performance over a two-year period, Constellation said. In April, Constellation agreed to divest its wine brands retailing at less than $11 a bottle such as Clos du Bois, Ravenswood and Mark West, to better focus on its more profitable, high-end wines. After the U.S. Federal Trade Commission raised concerns related to sparkling wine, brandy, dessert wine, and concentrate categories, Constellation said it had pulled Cook's California, J. Roget American Champagne brands and Paul Masson Grande Amber Brandy from the deal.
- GlobeNewswire
Constellation Brands and E. & J. Gallo Agree to Revise Wine and Spirits Agreement in Connection With Federal Trade Commission Review
The agreement announced in April 2019 will be revised to address FTC areas of competitive concern primarily related to the Sparkling Wine, Brandy, Dessert Wine, and Concentrate categories. The transaction price will be revised to approximately $1.1 billion, of which $250 million is an earnout based on divested brand performance over a two-year period. The transaction is expected to close by the end of fiscal 2020.
- Yahoo Finance Canada
Canopy’s new CEO not a ‘sexy pick,’ but is the right one: analyst
Cannabis sector analyst says that Klein is a solid choice who could eventually make way for a visionary.
- The Motley Fool
Don’t Buy Canopy Growth (TSX:WEED) Stock: These Pot Stocks Take the Cake
The market loves the partnership between Canopy Growth Corp (TSX:WEED)(NYSE:CGC) and Constellation Brands, Inc. (NYSE:STZ), but there are better cannabis stocks to trust with your money.
- Zacks
Moving Average Crossover Alert: Constellation Brands
Constellation Brands, Inc. (STZ) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
- Zacks
Constellation Brands (STZ) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Constellation Brands (STZ) closed at $181.28, marking a -1.29% move from the previous day.
- Bloomberg
Constellation Exec Named Canopy CEO as Takeover Odds Grow
(Bloomberg) -- Canopy Growth Corp., the world’s most valuable cannabis company, has appointed Constellation Brands Inc.’s finance head as its chief executive officer, raising the odds that the alcohol giant will buy Canopy outright.David Klein, currently chief financial officer of Constellation and chair of Canopy’s board of directors, will become the pot company’s CEO effective Jan. 14, Canopy announced Monday. Constellation owns approximately 35% of Canopy.Klein will replace Mark Zekulin, who has been leading the company as its sole CEO since Bruce Linton was forced out of his co-CEO role in July amid increasing pressure to turn a profit. Canopy shares rose as much as 13% in Toronto, while Constellation dipped 1.3% in New York.“Canopy Growth sits at the forefront of one of the most exciting new market opportunities in our lifetime,” Klein said in a statement. “I look forward to working with the team to build on the foundation that has been laid, to develop brands that strongly resonate with consumers, and to capture the market opportunity before us.”In an interview at Bloomberg’s New York office, Linton said he believes Constellation is preparing to acquire the remainder of Canopy to take advantage of its “disruptive” portfolio of cannabis beverages and its research into marijuana’s medical applications.“All these things are mega medium- to long-term outcomes, and Constellation has the best seat in the house to see that,” Linton said. “What they may say is, ‘We can actually buy the whole thing and about two years after we buy it, sell the medical division for more than we paid for the whole thing.”’Given Constellation’s “opportunistic mindset,” Cantor Fitzgerald analyst Pablo Zuanic said he’d assign more than two-thirds probability that it will bid for the rest of Canopy in the near term. “On the argument of an improving outlook for the cannabis industry, we think STZ could justify a deal,” he wrote in a note, using Constellation’s stock ticker.However, it won’t be an easy decision given the state of Constellation’s balance sheet, the earnings-per-share dilution that would result from a deal and a likely near-term hit to its share price, he said.Constellation said in a recent filing that it doesn’t plan to make additional cash contributions to Canopy beyond the possible exercise of its existing warrants.Canopy’s share price is down 63% since its recent high on April 29, and the company has said it won’t generate positive earnings before interest, taxes, depreciation and amortization until fiscal 2022.Klein’s appointment is “another step on Canopy’s path to profitability,” said Bloomberg Intelligence analyst Kenneth Shea. “Klein brings extensive consumer-products industry experience and financial acumen to Canopy during a period of investor anxiety over the company’s struggles to rein in spending and align itself for sustainable Ebitda profitability.”Zekulin will step down on Dec. 20, Canopy said. Klein will be replaced as chairman when he becomes CEO.(Updates stock price in paragraph 3, adds comments from Bruce Linton in paragraphs 5-6)To contact the reporter on this story: Kristine Owram in New York at kowram@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Courtney Dentch, David ScanlanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Investing.com
Stocks - Canopy Growth, ArQule Rise in Premarket; Microsoft Edges Lower
Investing.com -- Stocks in focus in premarket trade on Monday, 9th December.
- Reuters
UPDATE 3-Constellation tightens grip on Canopy with CEO appointment
Constellation Brands Inc finance head David Klein will take over in January as chief executive officer of pot producer Canopy Growth Corp, hardening up the Corona beer maker's control of a company into which it has sunk $4 billion. Klein was appointed Canopy chairman in October after Constellation booked a $430 million net loss related to the company. Linton had said that he was fired from the top job, days after Constellation expressed its disappointment over Canopy's 2018 results.
- Simply Wall St.
Is There An Opportunity With Constellation Brands, Inc.'s (NYSE:STZ) 42% Undervaluation?
Today we will run through one way of estimating the intrinsic value of Constellation Brands, Inc. (NYSE:STZ) by...
- Market Exclusive
Market Morning: Disney Epilepsy Warning, Banana Fiasco, Constellation Cannabis Concerns
Disney’s Star Wars Episode IX Discriminates Against Epileptics Disney’s (NYSE:DIS) new Star Wars movie Star Wars: The Rise of Skywalker, could be dangerous for those suffering from epileptic seizures. The Epilepsy Foundation said on Friday that Walt Disney Studios had reached out to notify the epilepsy community of sustained flashing lights in the movie that […]The post Market Morning: Disney Epilepsy Warning, Banana Fiasco, Constellation Cannabis Concerns appeared first on Market Exclusive.
- GlobeNewswire
Constellation Brands Names Garth Hankinson Executive Vice President and Chief Financial Officer
Constellation Brands, Inc. (NYSE:STZ and STZ.B), a leading beverage alcohol company, announced today that Garth Hankinson has been promoted to Executive Vice President and Chief Financial Officer (CFO), effective January 13, 2020. Hankinson succeeds David Klein, who will leave his role with Constellation Brands on January 13 to become Chief Executive Officer at Canopy Growth, which is anticipated to be effective January 14.
- Yahoo Finance
A winemaker is wooing millennials as Americans back away from the bar
David Duncan, Silver Oak Cellars CEO, told Yahoo Finance his brand is actually increasing in popularity with millennials.
- Zacks
Here's Why Boston Beer (SAM) Stands Out Amid Industry Peers
Boston Beer (SAM) witnesses robust depletion and shipments owing to innovations, quality of products and strong brands. These have been aiding its quarterly performance.
- The Motley Fool
Ditch the Lottery: These Cannabis Stocks Can Make You Millions
Cannabis stocks made investors rich in 2018. In the near future, stocks like Green Organic Dutchman Holdings Ltd (TSX:TGOD) and Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) could do it again.
- GlobeNewswire
Constellation Brands to Report Third Quarter Fiscal 2020 Financial Results; Host Conference Call January 8, 2020
VICTOR, N.Y., Dec. 04, 2019 -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today it will report financial results for its.
- The Motley Fool
Marijuana Stocks: Is the Bottom Near After 2019 Selloff?
Here is why it's still not the right time to buy marijuana stocks, such as Aurora Cannabis Inc.(TSX:ACB)(NYSE:ACB), even after a major correction of 2019.
- Zacks
Constellation Brands to Divest Ballast Point Brand & Assets
Constellation Brands (STZ) agrees to sell the Ballast Point brand and related assets to Kings & Convicts. The sale is likely to boost the company's depletion and margins.
- GlobeNewswire
Craft Brewer Kings & Convicts Brewing Co. to Acquire Ballast Point
Chicagoland-based Kings & Convicts Brewing Co. and Constellation Brands, Inc. (NYSE:STZ and STZ.B), a leading beverage alcohol company, announced today that Kings & Convicts has signed an agreement with Constellation to acquire the Ballast Point brand and a number of its associated production facilities and brewpubs, excluding Constellation’s Craft & Specialty operations in Daleville, Virginia. This transaction is expected to close by the end of Constellation’s fiscal 2020. “We’re excited to welcome the team at Ballast Point into the Kings & Convicts family,” said Brendan Watters, Kings & Convicts’ chief executive officer.
- Yahoo Finance Canada
Canopy Growth quietly unveils new CBD line for U.S. consumers
Canopy Growth has launched a new hemp-derived CBD line, its first consumer products targeting the massive American market.
- Zacks
Owens-Illinois Plunges 44% YTD: What's Pulling the Stock Down?
Unfavorable foreign-currency translation impact, elevated operational costs and beer-consumption decline in the domestic market remain headwinds for Owens-Illinois (OI).
- Zacks
Constellation Brands (STZ) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Constellation Brands (STZ) closed at $185.68, marking a +0.88% move from the previous day.
- Zacks
Constellation Brands (STZ) Gains As Market Dips: What You Should Know
In the latest trading session, Constellation Brands (STZ) closed at $186.56, marking a +0.38% move from the previous day.
- Bloomberg
Fat Tire Brewer New Belgium Bought by Kirin in Latest Craft Deal
(Bloomberg) -- New Belgium Brewing, one of the world’s largest independent breweries, agreed to be acquired by a unit of Japan’s Kirin Holdings Co., the latest craft beer maker to be snapped up in an increasingly competitive market.Lion Little World Beverages, a craft beer division of Kirin-owned Lion, will acquire the Colorado-based brewery in an all-cash deal, giving the Japanese company bigger exposure to the U.S. market. The price wasn’t disclosed.New Belgium, known for its Fat Tire Amber Ale, is the fourth-largest independent beermaker in the U.S. and the 11th largest brewer overall, according to 2018 data from the Brewers Association. The brewery is owned by its more than 700 employees and has distribution in all 50 U.S. states.The brewery is among the most iconic in the country, and was one the firms at the forefront of the scene as craft beer went from basement hobby to serious business. A team of then-husband-and-wife Jeff Lebesch and Kim Jordan founded the brewery in 1991, seeking to expose American consumers to the varied tastes of Belgian beers experienced during a bike trip through the country.But while there were only around 300 breweries in the U.S. at that time, the number of beermakers has surged in the past three decades, with almost 7,500 operating in the U.S. as of 2018. The now-mature customer base has rapidly changing tastes and a penchant for new fads.That has left some industry veterans flat-footed and in need of deep-pocketed partners in the crowded market -- as evidenced by Anheuser-Busch InBev’s deal to buy out Portland-based Craft Brew Alliance last week, or Samuel Adams maker Boston Beer Co.’s purchase of Dogfish Head earlier this year, in a deal valued at around $300 million.‘Proudly Independent’While New Belgium’s logo declares itself “independent, employee owned” and its website until recently carried a message that it has “never sold out to a bigger company,” the brewery had previously been exploring a sale.Kirin declined to disclose the value of the deal, but an acquisition of this scale would be significant. Reuters reported in 2015 that New Belgium was exploring a sale at a valuation of more than $1 billion, the same price Constellation Brands Inc. paid for San Diego-based Ballast Point Brewing & Spirits that same year. Forbes reported Lion would spend $350 million-$400 million on the deal, citing people it didn’t identify.“As we surveyed the landscape over the last several years, we found that options to raise capital while being an independent brewer weren’t realistic for us,” co-founder Jordan wrote in a letter posted on New Belgium’s website. “Some of the most widely used options by craft brewers were going to compromise a lot about what makes New Belgium great; environmental sustainability, and a rich internal culture.”New Belgium, whose other brands include Voodoo Ranger IPA and La Folie Sour Brown Ale, has a “B-Corporation” certification, which is issued by a nonprofit organization to companies that meet high standards on social and environmental performance, accountability and transparency. Lion Little World Beverages said it is committed to protecting New Belgium’s identity and culture.Brooklyn, AnchorJapan’s brewing giants have become notably active buyers of overseas craft breweries as beer sales in their domestic market continue to slide. Kirin has been the most acquisitive, buying a 25% stake in Brooklyn Brewery in 2016, and acquiring London-based Fourpure Brewing Co. in 2018.Kirin Chief Executive Officer Yoshinori Isozaki said in February that it has a 300 billion yen ($2.8 billion) budget for acquisitions over the next three years, and with large M&A opportunities largely “exhausted” that it was focusing on craft beer deals in America and Europe.Domestic rival Sapporo Holdings Ltd. in 2017 bought Anchor Brewing Co., a century-old San Francisco brewer that helped pioneer the craft-beer movement. Asahi Group Holdings Ltd., meanwhile, has focused on larger international deals, most recently spending around $11 billion to purchase Australia’s largest brewer from AB InBev.To contact the reporter on this story: Gearoid Reidy in Tokyo at greidy1@bloomberg.netTo contact the editors responsible for this story: Gearoid Reidy at greidy1@bloomberg.net, Jeff SutherlandFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
