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STZ.B

Constellation Brands; also tag STZ

$195.00

4.96 (2.61%)

, STZ

Constellation Brands

$193.13

-0.235 (-0.12%)

16:35
08/12/19
08/12
16:35
08/12/19
16:35

Constellation Brands to divest Black Velvet brand in $266M deal

Constellation Brands, Inc. announced that it has signed an agreement with Heaven Hill Brands to divest Black Velvet Canadian Whisky and the brand's associated production facility in Lethbridge, Alberta, Canada, along with a subset of Canadian whisky brands produced at that facility. The company expects to receive cash proceeds of approximately $266M, subject to closing adjustments. This transaction is subject to regulatory approvals and is expected to close in the second half of calendar 2019. "We are relentlessly focused on the consumer and building a portfolio of brands consumers love today, while pushing beyond to meet their evolving needs well into the future," said Bill Newlands, Constellation Brands president and chief executive officer. "This decision aligns with our consumer-led premiumization strategy to deliver accelerated growth and shareholder value as we continue to focus our wine and spirits portfolio on higher-end, fast-growing brands. For Heaven Hill, Black Velvet is a historic, well-known, and high-volume brand that complements their broad distilled spirits portfolio and aligns with their business strategy. The net sales for the brands included in the transaction totaled $67M during Constellation's fiscal year 2019, and the purchase price represents a multiple of gross profit after marketing in the range of eight to nine times.

STZ.B

Constellation Brands; also tag STZ

$195.00

4.96 (2.61%)

STZ

Constellation Brands

$193.13

-0.235 (-0.12%)

  • 01

    Oct

STZ.B Constellation Brands; also tag STZ
$195.00

4.96 (2.61%)

02/21/19
GHSC
02/21/19
INITIATION
GHSC
Neutral
Canopy Growth initiated with a Neutral at Seaport Global
Seaport Global analyst Brett Hundley initiated Canopy Growth (CGC) with a Neutral rating, stating that he "very much like this company," but he believes the current valuation already discounts attractive forward fundamentals and potential cash value from the exercise of additional warrants from Constellation (STZ).
04/05/19
FBCO
04/05/19
NO CHANGE
Target $230
FBCO
Outperform
Constellation results pave way for shares to trade on growth, says Credit Suisse
Credit Suisse analyst Kaumil Gajrawala reiterated an Outperform rating and $230 price target on Constellation Brands following the company's Q4 results, saying that with beer results and dilution from wine in-line with his expectations, he believes the results pave the way for Constellation shares to trade based on the growth, returns and cash flow to be delivered by "RemainCo."
07/03/19
STFL
07/03/19
NO CHANGE
STFL
Buy
Linton's vision to be 'sorely missed' at Canopy, says Stifel
Stifel analyst W. Andrew Carter maintained a Buy rating on Canopy Growth (CGC) after the company announced a "surprising" change in leadership, with founder and co-CEO Bruce Linton stepping down from his roles, Mark Zekulin stepping in as CEO, and the board searching for a permanent successor at CEO. Carter believes the board is "is likely unsatisfied with the company's operational performance in recent periods and sees a change in leadership as necessary to right the ship" but also believes Linton's vision and founder status will be "sorely missed." The analyst also noted that Constellation Brands (STZ), Canopy's largest investor, now has four of six total board seats, and had previously stated that it was not pleased with Canopy's recent performance, supporting "Canopy on a more focused long-term strategy to win markets and form factors that matter."
07/15/19
BOFA
07/15/19
DOWNGRADE
Target $50
BOFA
Underperform
BofA/Merrill double downgrades Molson Coors to Underperform
As previously reported, BofA Merrill Lynch analyst Bryan Spillane downgraded Molson Coors (TAP) two notches, to Underperform from Buy, citing the heightened potential he sees that the company will need to increase spending to stabilize core brands' market share and invest in premium and "beyond" beer segments. To support his view, Spillane notes that Molson Coors has continued to lose market share in FY19 as competitors such as AB InBev (BUD), Heineken (HEINY), Constellation (STZ) and Boston Beer (SAM) have increased marketing/brand support and that products like hard seltzers and canned wine pose further risk to domestic light beer. He lowered his price target on Molson Coors shares to $50 from $70.
STZ Constellation Brands
$193.13

-0.235 (-0.12%)

07/01/19
JEFF
07/01/19
NO CHANGE
Target $274
JEFF
Buy
Constellation Brands price target raised to $274 from $264 at Jefferies
Jefferies analyst Kevin Grundy raised his price target for Constellation Brands (STZ) to $274 from $264 citing the company's "strong" Q1 and updated fiscal 2020 guidance. The share setup "remains compelling" with beer sales momentum continuing, margin expectations "reasonable," dilution from the wine asset sale understood, and with Canopy Growth (CGC) still offering "unique exposure" to the cannabis space, Grundy tells investors in a research note. The analyst calls Constellation his top pick and he sees scope for the stock to re-rate higher.
07/17/19
JEFF
07/17/19
NO CHANGE
Target $270
JEFF
Buy
Constellation Brands can deliver on beer segment guidance, says Jefferies
Jefferies analyst Kevin Grundy says his beer portfolio deep dive by brand points to ~6%-7% volume growth over the next five years for Constellation Brands, which he believes supports consensus estimates and the company's high-single-digit percentage sales outlook. While skepticism has grown regarding Constellation's growth sustainability, the analysis should help investors find greater comfort in its outlook, Grundy tells investors in a research note. He believes the company's risk/reward "remains compelling" and keeps a Buy rating on the shares. The analyst lowered his price target for Constellation Brands to $270 from $274.

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JMIA

Jumia Technologies

$12.43

-2.26 (-15.38%)

13:47
08/21/19
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13:47
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Jumia Technologies analyst commentary  »

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13:45
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General news
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AFL

Aflac

$49.66

-2.2 (-4.24%)

13:38
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13:38
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Aflac reiterates review being done of Post channel sales, Bloomberg says »

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AMZN

Amazon.com

$1,823.96

21.88 (1.21%)

, WMT

Walmart

$112.15

0.03 (0.03%)

13:37
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08/21
13:37
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13:37
Periodicals
Amazon opens 'largest campus yet' in south Indian city, Bloomberg says »

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AMZN

Amazon.com

$1,823.96

21.88 (1.21%)

WMT

Walmart

$112.15

0.03 (0.03%)

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CBL

CBL & Associates

$0.86

0.022 (2.62%)

13:32
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13:32
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13:25
08/21/19
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The Food & Drug Law Institute to hold a webinar »

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13:25
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Conference/Events
FOMC releases minutes from July 30-31, 2019 Policy Meeting »

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

13:17
08/21/19
08/21
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13:17
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GOOG

Alphabet

$1,195.07

11.64 (0.98%)

, GOOGL

Alphabet Class A

$1,196.08

11.82 (1.00%)

13:16
08/21/19
08/21
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13:16
Hot Stocks
YouTube Premium users can now listen directly within Waze app »

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GOOG

Alphabet

$1,195.07

11.64 (0.98%)

GOOGL

Alphabet Class A

$1,196.08

11.82 (1.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

13:16
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BHC

Bausch Health

$22.31

1.05 (4.94%)

13:06
08/21/19
08/21
13:06
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13:06
Hot Stocks
Bausch Health trades up after VP Humphries buys over $650K in shares »

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FB

Facebook

$185.03

1.27 (0.69%)

, TWTR

Twitter

$42.65

0.355 (0.84%)

13:05
08/21/19
08/21
13:05
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13:05
On The Fly
#SocialStocks: New 'Off-Facebook Activity' tool, Argus upgrades Pinterest »

Welcome to…

FB

Facebook

$185.03

1.27 (0.69%)

TWTR

Twitter

$42.65

0.355 (0.84%)

PINS

Pinterest

$36.40

2.05 (5.97%)

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ALXN

Alexion

$113.91

2.49 (2.23%)

13:05
08/21/19
08/21
13:05
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13:05
Options
Alexion call volume above normal and directionally bullish »

Bullish option flow…

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VIOT

Viomi Technology

$9.00

-0.27 (-2.91%)

12:57
08/21/19
08/21
12:57
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12:57
Initiation
Viomi Technology initiated at Needham »

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  • 21

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MAS

Masco

$40.58

0.95 (2.40%)

, GWW

Grainger

$276.25

4.29 (1.58%)

12:57
08/21/19
08/21
12:57
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12:57
Periodicals
Masco trades higher after Bloomberg report on bidders for cabinet-making unit »

Late in the trading…

MAS

Masco

$40.58

0.95 (2.40%)

GWW

Grainger

$276.25

4.29 (1.58%)

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PFPT

Proofpoint

$117.13

5.14 (4.59%)

12:55
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12:55
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12:55
Conference/Events
Proofpoint participates in a conference call with Wedbush »

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BLK

BlackRock

$420.88

2.92 (0.70%)

12:54
08/21/19
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12:54
Periodicals
BlackRock funds get approval to acquire stake in Cofense, WSJ reports »

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GS

Goldman Sachs

$200.90

0.98 (0.49%)

12:52
08/21/19
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12:52
Periodicals
Goldman Sachs studying sale of Safe-Guard Products unit, Reuters reports »

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JNJ

Johnson & Johnson

$131.60

1.03 (0.79%)

, LLY

Eli Lilly

$111.90

0.94 (0.85%)

12:26
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12:26
Periodicals
HHS appeals ruling over pharma prices in TV ads, STAT News reports »

The U.S. Department of…

JNJ

Johnson & Johnson

$131.60

1.03 (0.79%)

LLY

Eli Lilly

$111.90

0.94 (0.85%)

MRK

Merck

$87.16

1.5 (1.75%)

PFE

Pfizer

$35.04

0.42 (1.21%)

SNY

Sanofi

$43.35

0.76 (1.78%)

AZN

AstraZeneca

$45.59

0.97 (2.17%)

GSK

GlaxoSmithKline

$40.85

0.59 (1.47%)

NVS

Novartis

$90.50

1.43 (1.61%)

RHHBY

Roche

$0.00

(0.00%)

BMY

Bristol-Myers

$47.65

0.02 (0.04%)

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NVRO

Nevro

$84.55

1.57 (1.89%)

12:25
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Nevro participates in a conference call with SVB Leerink »

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VG

Vonage

$13.53

0.185 (1.39%)

, FIVN

Five9

$64.11

1.63 (2.61%)

12:25
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Conference/Events
Stephens Cloud Infrastructure Analyst to hold Analyst/Industry conference call »

Enterprise & Cloud…

VG

Vonage

$13.53

0.185 (1.39%)

FIVN

Five9

$64.11

1.63 (2.61%)

TWLO

Twilio

$132.21

5.32 (4.19%)

WORK

Slack Technologies

$31.07

0.575 (1.89%)

AMZN

Amazon.com

$1,824.00

21.92 (1.22%)

MSFT

Microsoft

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1.57 (1.14%)

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AAPL

Apple

$213.25

2.9 (1.38%)

, FB

Facebook

$185.05

1.29 (0.70%)

12:21
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Periodicals
Trump says relationship better with Apple CEO than other tech execs, CNBC says »

CNBC's Eamon Javers…

AAPL

Apple

$213.25

2.9 (1.38%)

FB

Facebook

$185.05

1.29 (0.70%)

AMZN

Amazon.com

$1,824.53

22.45 (1.25%)

GOOGL

Alphabet Class A

$1,195.80

11.54 (0.97%)

GOOG

Alphabet

$1,195.03

11.6 (0.98%)

TWTR

Twitter

$42.78

0.485 (1.15%)

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$NSD

NASDAQ Market Internals

$0.00

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12:17
08/21/19
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IGLD

Internet Gold

$24.80

-0.75 (-2.94%)

12:16
08/21/19
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Hot Stocks
Internet Gold announces receipt of Nasdaq non-compliance notice »

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GE

General Electric

$8.32

-0.07 (-0.83%)

12:16
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Hot Stocks
NY AG files lawsuit against EPA over GE Hudson River PCB cleanup »

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