Constellation Brands, Inc.NYSE
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  • Tue, Nov. 22, 3:33 PM
    • Looking at the top 50 hedge fund hotels, it's probably little surprise that Amazon (NASDAQ:AMZN) and Facebook (NASDAQ:FB) top the list, with Amazon making for a top 10 holding in 61 funds, and Facebook in 57.
    • Rounding out the top 10 are Charter Communications (NASDAQ:CHTR), Alphabet (GOOG, GOOGL), Apple (NASDAQ:AAPL), Microsoft (NASDAQ:MSFT), Yahoo (NASDAQ:YHOO), Allergan (NYSE:AGN), Bank of America (NYSE:BAC), and Priceline (NASDAQ:PCLN).
    • Looking at another gauge - the percent of market cap owned by hedge funds - shows CommScope (NASDAQ:COMM) leading the way, with hedge funds owning 37%. Next is Dell Technologies (NYSE:DVMT) and Expedia (NASDAQ:EXPE) at 30%, and after that: Liberty Broadband (NASDAQ:LBRDK) at 24%, LinkedIn (NYSE:LNKD) at 21%, Constellation Brands (NYSE:STZ) at 20%, and Humana (NYSE:HUM) and WhiteWave Foods (NYSE:WWAV) at 19%.
    • Previously: Goldman's list of shorts mattering most to hedge funds (Nov. 22)
    | Tue, Nov. 22, 3:33 PM | 12 Comments
  • Mon, Nov. 21, 9:11 AM
    • Constellation Brands (NYSE:STZ) approves a new buyback program of $1B worth of stock.
    • The new buyback allowance is on top of a current $1B share repurchase program.
    • "We are pleased with our new Investment Grade status, which has been driven by our ability to continue to generate strong earnings and operating cash flow," notes Constellation CFO David Klein.
    • "This provides us with the flexibility to be opportunistic with future share repurchases while remaining committed to our 3.5x targeted leverage ratio,"  he adds.
    • STZ +1.12% premarket to $156.90.
    | Mon, Nov. 21, 9:11 AM
  • Wed, Nov. 9, 12:00 PM
    | Wed, Nov. 9, 12:00 PM
  • Mon, Oct. 31, 9:22 AM
    • Constellations Brands (NYSE:STZ) announces it acquired Obregon Brewery from Grupo Modelo for $600M.
    • The deal has to be approved by the DOJ before closing.
    • The plant located in Mexico is expected to have 4M hectoliters of production capacity with minimal investment.
    • "We believe this is the right strategy to provide near-term capacity and greater flexibility to support our growth and innovation plans, while allowing for the buildout of our Mexicali brewery over an extended time period," says Constellation CEO Rob Sands.
    • Grupo Modelo is a subsidiary of Anheuser-Busch InBev (NYSE:BUD).
    • STZ +1.12% premarket to $167.88.
    | Mon, Oct. 31, 9:22 AM | 7 Comments
  • Mon, Oct. 17, 9:33 AM
    | Mon, Oct. 17, 9:33 AM
  • Mon, Oct. 17, 8:28 AM
    • The Ontario Teachers' Pension Plan acquires the Canadian operation of Constellation Brands (NYSE:STZ) for approximately C$1.03B ($785M).
    • The transaction is expected to close before the end of the calendar year.
    • "Constellation Brands Canada is an ideal addition to our Consumer Portfolio," said Jane Rowe, Senior Vice-President, Private Capital.
    • The Wall Street Journal tipped off that a deal was near last night.
    • Previously: Constellation Brands nears sale of Canadian wine unit (Oct. 16)
    • Source: Press Release
    | Mon, Oct. 17, 8:28 AM | 2 Comments
  • Sun, Oct. 16, 11:18 PM
    • The deal with the Ontario Teachers’ Pension Plan is valued at about C$1B, reports the WSJ, and an official announcement could come as soon as Monday morning. Constellation (NYSE:STZ) earlier this year said it planned to pursue an IPO of the division, but instead put it on the block after receiving interest from a number of parties.
    • The sale highlights the Constellation's heightened focus on premium spirits, beer, and wine. Among the company's purchases of higher-priced alcohol purveyors over the past few years are craft brewer Ballast Point, wine-maker Prisoner Wine Co. and whiskey-maker High West Distillery.
    | Sun, Oct. 16, 11:18 PM | 1 Comment
  • Wed, Oct. 5, 10:21 AM
    | Wed, Oct. 5, 10:21 AM | 2 Comments
  • Wed, Oct. 5, 9:09 AM
    • Constellation Brands (NYSE:STZ) is solidly higher in early trading after posting Q3 results above expectations.
    • The quarter included a gain in market share and improved margins. The acquisition of Ballast Point had a notable impact.
    • The company expects full-year EPS of $6.30 to $6.45, above a prior outlook for $6.05 to $6.35.
    • Previously: Constellation Brands beats by $0.11, beats on revenue (Oct. 5)
    • STZ +3.11% premarket to $171.00.
    | Wed, Oct. 5, 9:09 AM | 2 Comments
  • Wed, Oct. 5, 8:11 AM
    • Constellation Brands (NYSE:STZ) declares $0.40/share quarterly dividend, in line with previous.
    • Forward yield 0.96%
    • Payable Nov. 22; for shareholders of record Nov. 8; ex-div Nov. 4.
    | Wed, Oct. 5, 8:11 AM
  • Wed, Oct. 5, 8:08 AM
    • Constellation Brands (NYSE:STZ): FQ2 EPS of $1.77 beats by $0.11.
    • Revenue of $2.02B (+16.8% Y/Y) beats by $60M.
    • Shares +3.71% PM.
    • Press Release
    | Wed, Oct. 5, 8:08 AM
  • Tue, Oct. 4, 5:30 PM
    | Tue, Oct. 4, 5:30 PM | 4 Comments
  • Fri, Sep. 30, 3:21 PM
    • Constellation Brands (STZ +2%) has put its Canadian wine business up for sale in an auction that could fetch more than $1B, WSJ reports.
    • STZ already has received offers from several groups, including the Ontario Teachers Pension Plan and an unknown buyer from the alcohol industry, according to the report.
    • A sale would reflect STZ's strategic goal of streamlining its business to focus on premium wines and beer in the U.S.
    | Fri, Sep. 30, 3:21 PM | 2 Comments
  • Wed, Sep. 28, 11:04 AM
    • RBC Capital takes Constellation Brands (STZ -0.5%) off its Focus List with a "beat and raise" result already factored in by investors ahead of the company's upcoming earnings report. Shares of Constellations Brands are up 16% YTD.
    • The investment firm sticks with its Outperform rating and on-year price target of $181.
    • Constellations Brands is due to report on Ocotber 5.
    • Earlier this week, Susquehanna analyst Pablo Zuanic noted that Constellation Brands doesn't seem to be trading with any political risk factored in. He raised the possibility that a Trump presidency could lead to a loss of popularity in Mexican beer brands and cut into the company's profit if import tariffs are raised.
    | Wed, Sep. 28, 11:04 AM | 2 Comments
  • Fri, Sep. 16, 10:21 AM
    • Credit Suisse names its favorite stocks in the beverage sector and cautions on others with a wave of initiations.
    • The investment firm starts off coverage on Monster Beverage (MNST -0.4%), Dr. Pepper Snapple (DPS), and PepsiCo (PEP -0.4%) with Outperform ratings.
    • Neutral ratings filter down on Coca-Cola (KO -0.6%) and Constellation Brands (STZ -1.4%).
    • CS hangs an Underperform rating on Boston Beer (SAM -1.2%).
    • Forward PE ratios on the group: Monster 30.8, Dr. Pepper 20.6, PepsiCo 20.5, Coca-Cola 21.1, Constellations Brands 23.4, Boston Beer 23.2.
    | Fri, Sep. 16, 10:21 AM | 3 Comments
  • Sat, Aug. 6, 11:06 AM
    • The heavy investment by the automobile industry on self-driving technology could end up benefiting restaurants and beer companies, according to some conjecture from Morgan Stanley.
    • The math from MS works out like this: You take the 39% of the 2.1B global drinking population that drives and factor in that their average intake of alcohol would increase from 1.5 drinks to 2.5 drinks per week with a self-driving car to haul them home. Assign a value per drink of $2.32 and you have an incremental annual benefit of $98B for the restaurant and alcohol industry.
    • There's conflicting data on the impact of Uber (Private:UBER) and Lyft (Private:LYFT) on alcohol consumption, so the Morgan Stanley theory has a ways before playing out. Still, Morgan's Adam Jonas is convinced the automobile industry is heading toward a future of fully autonomous transport in which the driving experience is nostalgic. The buying habits of younger millennials support the thesis to a degree.
    • During the Tesla Motors (NASDAQ:TSLA) earnings call earlier this week, Elon Musk predicted global demand for self-driving cars would reach 2.5B. Execs with General Motors (NYSE:GM), BMW (OTCPK:BMWYY), and Toyota (NYSE:TM) also talked autonomous models in their CCs.
    • If Jonas and Musk are anywhere close to correct, the list of companies that could benefit from the autonomous push includes Buffalo Wild Wings (NASDAQ:BWLD), Dine Equity (NYSE:DIN), Anheuser-Busch InBev (NYSE:BUD), Molson Coors (NYSE:TAP), Boston Beer (NYSE:SAM), Brinker International (NYSE:EAT), Bloomin' Brands (NASDAQ:BLMN), Ignite Restaurant Group (NASDAQ:IRG), Kona Grille (NASDAQ:KONA), Diageo (NYSE:DEO), Constellations Brands (NYSE:STZ), and Craft Brew Alliance (NASDAQ:BREW).
    • Related ETF: BITE.
    | Sat, Aug. 6, 11:06 AM | 108 Comments