Welcome to our dedicated page for Constellation Brands news (Ticker: STZ), a resource for investors and traders seeking the latest updates and insights on Constellation Brands stock.
Constellation Brands, Inc. (NYSE: STZ) is a leading international producer and marketer of beer, wine, and spirits with a remarkable presence in the U.S., Canada, Mexico, New Zealand, and Italy. The company is recognized as the third-largest producer and marketer of beer in the U.S. market and the global leader in premium wine. Their extensive portfolio includes renowned brands such as Corona Extra, Modelo Especial, Robert Mondavi, and SVEDKA Vodka.
Headquartered in Victor, NY, Constellation Brands is committed to building brands that people love, focusing on quality and consumer satisfaction. They generate approximately 80% of their revenue from Mexican beer imports, making them a significant player in this segment. In addition to their prowess in beer, Constellation continues to innovate within the wine and spirits categories, enhancing their offerings with select premium brands.
Financially, Constellation Brands has shown impressive growth and profitability, bolstered by strategic partnerships and acquisitions. They own a 36% stake in Canopy Growth, a Canadian cannabis company, and have a joint venture with glass manufacturer Owens-Illinois. These strategic moves have positioned the company for continued growth and market leadership.
Constellation Brands is also dedicated to sustainability and ESG (Environmental, Social, and Governance) goals. Recently, they released their 2023 ESG Impact Report, highlighting achievements such as restoring over 1.1 billion gallons of water withdrawals, with a new target to restore 5 billion gallons by FY2025. They are also advancing their environmental stewardship with goals for zero waste certification and circular packaging by FY2025.
The company’s social initiatives include a $200 million investment in female- and minority-founded businesses within the beverage alcohol industry. They have formed impactful partnerships with organizations like Dress for Success and UnidosUS to support underserved communities.
Constellation Brands continues to enhance governance practices, including transitioning to a single class of common stock and refreshing their Board. These initiatives reflect their commitment to creating long-term value for shareholders while adhering to the highest standards of corporate governance.
For more detailed updates and financial results, please visit their official website and follow them on social media platforms like X, Instagram, and LinkedIn.
Constellation Brands has announced the full redemption of its 2.700% and 2.650% Senior Notes due 2022, totaling $1.2 billion, scheduled for August 25, 2021. The redemption will include an estimated cash make-whole premium of around $27 million. This move indicates the company's strategy to manage its debt effectively as it continues to operate in the beverage alcohol sector, which includes well-known brands like Corona and Modelo.
Constellation Brands announced a public offering of $1 billion in 2.250% Senior Notes due 2031, priced at 99.555% of the principal amount. The offering is expected to close on July 26, 2021. Proceeds will be utilized to redeem existing 2.700% Senior Notes due 2022 totaling $500 million, along with general corporate purposes, potentially including the repayment of near-term debt. BofA Securities, Goldman Sachs, and J.P. Morgan are leading the offering.
Constellation Brands (NYSE: STZ and STZ-B) has announced an accelerated share repurchase agreement with Goldman Sachs to repurchase $500 million of its Class A common stock. Approximately 1.7 million shares will be repurchased by July 2, 2021, based on a stock price of $230.98. This move reflects the company's commitment to maximizing shareholder value as part of its objective to return $5 billion to shareholders by fiscal 2023. The transaction is funded by cash on hand and will not alter fiscal 2022 EPS guidance.
Constellation Brands (NYSE: STZ, STZ-B) reported its first quarter fiscal 2022 results on June 30, 2021. The company is recognized as a major player in the beverage alcohol industry. A conference call led by CEO Bill Newlands and CFO Garth Hankinson will take place the same day at 11:30 a.m. (EDT) to discuss these results.
Constellation Brands continues to grow its portfolio of well-known beer, wine, and spirits brands, enhancing its position in the market.
Constellation Brands (NYSE: STZ, STZ-B) has announced its acquisition of a minority stake in Dos Hombres, a craft mezcal brand by Breaking Bad stars Aaron Paul and Bryan Cranston. The deal aims to enhance Constellation's presence in the growing U.S. mezcal market, which saw a 14% growth in 2020. Dos Hombres is independently owned and invested in maintaining its production authenticity. The investment aligns with Constellation's strategy to support high-potential beverage brands.
Constellation Brands (NYSE: STZ, STZ.B) has partnered with Modelo to donate $500,000 to UnidosUS, aimed at enhancing financial security for Hispanic families through empowerment and homeownership initiatives. This donation highlights the ongoing issues faced by Hispanic communities, particularly during the economic hardships of the COVID-19 pandemic. The funds will support financial literacy and counseling programs, enabling over 590,000 families to access housing resources and helping 30,000 buy homes, thus addressing systemic barriers to wealth building.
LiveXLive Media's React Presents announced that the Spring Awakening Music Festival (SAMF) has sold out its Tier 1 General Admission and VIP tickets for October 2-3, 2021. Limited Tier 2 tickets remain available. The festival, featuring top artists like Martin Garrix and Diplo, will host over 70 performers across four stages. The Ultimate VIP experience includes exclusive amenities and a 1-year LiveXLive premium membership. This event marks SAMF's return to Chicago, aiming to enhance LiveXLive's distribution strategy across multiple platforms.
Constellation Brands (NYSE: STZ, STZ-B) will announce its fiscal Q1 2021 financial results on June 30, 2021, before U.S. market opening. The results will cover the period ending on May 31, 2021. A conference call, featuring CEO Bill Newlands and CFO Garth Hankinson, is set for 11:30 a.m. EDT on the same day. Interested parties can join the call by dialing +1-877-673-1771 and using the conference ID 2996440. A live webcast will also be available on the company's website, along with a financial reconciliation.
LiveXLive Media's React Presents has announced the return of the Spring Awakening Music Festival (SAMF) to Chicago's Addams/Medill Park on October 2-3, 2021. This two-day electronic music festival will feature performances from major artists such as Martin Garrix, Excision, and Diplo, among others. Expect over 70 artists across four stages, along with new stage productions and art installations. Last year's virtual SAMF reached over 3 million livestreams showcasing LiveXLive's expanding reach in live events and streaming. Tickets are available now.
Constellation Brands (NYSE: STZ, STZ.B) has acquired a minority stake in La Fête du Rosé, a brand aimed at diverse consumers and founded by Donae Burston. This investment marks the start of Constellation's Focus on Minority Founders initiative, with a commitment to invest $100 million in Black and minority-owned businesses by 2030. Burston, with 15 years in the beverage industry, aims to create a brand that represents inclusivity. The partnership will support La Fête's growth while promoting equity in the beverage alcohol industry.
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