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Jim Van Meerten is an advisor to Marketocracy Capital Management and writes on financial subjects here and on Barchart Portfolio Blogs and Seeking Alpha. He earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and... More
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  • Constellation Brands - STZ - Barchart Chart Of The Day 0 comments
    Aug 16, 2012 2:25 PM | about stocks: STZ

    Barchart.coms Chart of the Day - Constellation Brands (NYSE:STZ)

    Barchart Research Team - BC - Wed Aug 15, 6:39PM CDT

    Related Stocks
    STZ - Constellation Brands Inc

    SymLastChgPct
    STZ31.73+0.08+0.25%

    The "Chart of the Day" is Constellation Brands Inc. (STZ), which showed up on Wednesday's Barchart "All-Time High" list. Constellation on Wednessday posted an all-time high at $32.25 and closed up +3.16%. TrendSpotter has been long Constellation since June 26 at $22.19. In recent news on the stock, Stifel Nicolaus Wednesday raised its price target for Constellation Brands to $36 from $32 and kept its buy rating on the stock after Beer Marketer's Insights reported the company's Crown business is taking a 3% price increase in Florida. Constellation Wednesday said it plans to use proceeds from a debt offering, coupled with available cash and borrowings under a senior credit facility, to fund its Crown Imports LLC transaction. Constellation agreed in June to buy partner Grupo Modelo's 50 percent stake in Crown Imports for $1.85 billion. Constellation, with a market cap of $5.275 billion, is a leading international producer and marketer of beverage alcohol brands, with a broad portfolio across the wine, spirits and imported beer categories. The Company is the largest multi-category supplier of beverage alcohol in the United States; a leading producer and exporter of wine from Australia and New Zealand; and both a major producer and independent drinks wholesaler in the United Kingdom. Well-known brands in Constellation's portfolio include: Corona Extra, Pacifico, St. Pauli Girl, Black Velvet, and Fleischmann's.

    (click to enlarge)stz_700_01

    How we found the Chart of the Day:

    We found the "Chart of the Day" by scanning the Barchart "All-Time High" list. In order to get to that list, we first clicked on the Stocks menu item on the Barchart home page, then on the "All-Time Highs" menu item on the left menu bar. We then sorted the list by percentage gainers by clicking on the "Percent" column title. A stock that has posted a new all-time high is typically showing strong upside momentum.

    The status of Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

    • TrendSpotter: Buy
    • Short-Term Indicators: 100% Buy
    • Medium-Term Indicators: 100% Buy
    • Long-Term Indicators: 67% Buy
    • Overall Average 96% Buy

    Barchart links for further information:

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    Chart of the Day Archive
    View Past Chart of the Day Reports

    Stocks: STZ
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