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Constellation Brands, Inc. - STZ STOCK NEWS

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.

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Constellation Brands (NYSE: STZ) has completed its reclassification transaction, eliminating Class B Common Stock and transitioning to solely Class A Common Stock. Trading of Class B shares ceased on November 10, 2022. The transaction involved a cash distribution of approximately $1.5 billion to Class B shareholders at $64.64 per share, financed via a delayed draw term loan and commercial paper. This will incur annual interest expenses of $80 - $90 million, contributing to an expected total interest expense of $390 - $400 million for fiscal 2023. The retirement of Robert and Richard Sands is anticipated to yield $15 - $20 million in annual compensation savings.

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Constellation Brands (NYSE: STZ, STZ-B) announced that stockholders approved an amended charter eliminating Class B Common Stock. Approximately 75% of Class A shares voted in favor during a special meeting. With this amendment, the company will operate solely under Class A shares, ensuring one vote per share. This change, expected to conclude on November 10, 2022, aims to enhance corporate governance and align voting rights with economic interests. Additionally, several governance enhancements will take effect, including board composition changes and the transition to a majority vote standard for director elections.

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Constellation Brands announces a consolidation of its U.S. cannabis assets under a new entity, Canopy USA. This move allows for full ownership of U.S. cannabis investments and aims to capitalize on market opportunities. Constellation will transition its common shares in Canopy Growth to non-voting, exchangeable shares, preserving shareholder value. This simplifies Constellation's focus on its core beer, wine, and spirits businesses and eliminates the impact of Canopy's financial performance on its results. Shareholder approval is pending for necessary amendments.

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Constellation Brands (NYSE: STZ and STZ.B) announced its second quarter fiscal 2023 financial results on October 6, 2022. The company is a leader in the beverage alcohol sector, known for brands like Corona and Modelo. A conference call with CEO Bill Newlands and CFO Garth Hankinson will be held to discuss these results and outlook. Constellation aims to deliver growth through a strong product portfolio and commitment to innovation.

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Constellation Brands (NYSE: STZ and STZ.B) announced a deal to divest a portion of its wine portfolio to The Wine Group. This includes brands like Cooper & Thief and Charles Smith Wines. The transaction is expected to close today, indicating Constellation's strategic shift towards premium and fine wines while divesting mainstream brands. Executive Robert Hanson emphasized the focus on consumer preferences and premiumization trends. This shift aims to enhance growth and shareholder value, with a streamlined portfolio of strong brands remaining.

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Constellation Brands (NYSE: STZ, STZ.B) will report its second quarter financial results for the period ending August 31, 2022, on October 6, 2022, before U.S. market open. The announcement will be followed by a conference call at 10:30 a.m. EDT, featuring President Bill Newlands and CFO Garth Hankinson. Investors can participate by dialing +1-877-407-9121 or via a live webcast on the company's investor relations site. Key financial measures will be available online, ensuring comprehensive insights for shareholders.

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Constellation Brands (NYSE: STZ and STZ.B) has announced that Garth Hankinson, Executive Vice President and CFO, will participate in a fireside chat at the 2022 Barclays Global Consumer Staples Conference in Boston on September 7, 2022, starting at 11:15 a.m. ET. The discussion will include the company’s strategic business initiatives, financial metrics, and operating performance. A live webcast will be available on their investor relations site, with a replay accessible until October 7, 2022.

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Constellation Brands (NYSE: STZ, STZ.B) has committed $700,000 over two years to support The Nature Conservancy’s (TNC) water management initiatives. Aimed at enhancing watershed health in California, this donation aligns with Constellation's water replenishment goals, which target restoring approximately 1.1 billion gallons of water by FY 2025. The funding supports TNC's Global Resilient Watersheds program and dynamic water management strategies in key California regions. This initiative highlights Constellation's broader commitment to sustainability and environmental responsibility.

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Constellation Brands (NYSE: STZ, STZ-B) announced a proposal to eliminate its Class B common stock, subject to shareholder approval. This proposal involves converting each Class B share into one Class A share plus $64.64 in cash, totaling $1.5 billion, which represents a 26.5% premium over the Class A stock's closing price on June 29, 2022. The reclassification aims to enhance corporate governance and reduce operating costs by approximately $15-20 million in fiscal 2022. The Sands Family will maintain significant ownership but will have reduced voting power.

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FAQ

What is the current stock price of Constellation Brands (STZ)?

The current stock price of Constellation Brands (STZ) is $227.63 as of December 20, 2024.

What is the market cap of Constellation Brands (STZ)?

The market cap of Constellation Brands (STZ) is approximately 41.2B.

What products does Constellation Brands produce?

Constellation Brands produces a wide range of beer, wine, and spirits, including Corona Extra, Modelo Especial, Robert Mondavi wines, and SVEDKA Vodka.

Where is Constellation Brands headquartered?

Constellation Brands is headquartered in Victor, New York.

What is Constellation Brands' market position in the beer industry?

Constellation Brands is the third-largest producer and marketer of beer in the U.S. market.

What are Constellation Brands' sustainability goals?

Constellation Brands aims to restore 5 billion gallons of water withdrawals by FY2025 and achieve zero waste certification and circular packaging.

What social initiatives does Constellation Brands support?

They support underserved communities with a $200 million investment in female- and minority-founded businesses and partnerships with organizations like Dress for Success.

How does Constellation Brands contribute to shareholder value?

Through strategic acquisitions, innovation in product offerings, and a strong commitment to ESG goals, Constellation Brands aims to deliver sustained shareholder value.

Does Constellation Brands have any stake in the cannabis industry?

Yes, Constellation Brands owns a 36% stake in Canopy Growth, a Canadian cannabis producer.

What are some of Constellation Brands’ premium brands?

Their premium brands include Robert Mondavi, Clos du Bois, Kim Crawford, and Casa Noble Tequila.

What recent governance enhancements has Constellation Brands made?

They transitioned to a single class of common stock and refreshed their Board to enhance corporate governance.

How can I get the latest updates on Constellation Brands?

For the latest updates, visit their official website and follow them on X, Instagram, and LinkedIn.

Constellation Brands, Inc.

NYSE:STZ

STZ Rankings

STZ Stock Data

41.22B
159.94M
11.9%
81.74%
1.89%
Beverages - Brewers
Beverages
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United States of America
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