Constellation Brands (STZ) was Initiated by Credit Suisse to “Neutral”. Credit Suisse advised their investors in a research report released on Sep 16, 2016.
On the company’s financial health, Constellation Brands reported $1.54 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jun 30, 2016. Analyst had a consensus of $1.52. The company had revenue of $1872.00 million for the quarter, compared to analysts expectations of $1829.45 million. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 EPS.
Constellation Brands opened for trading at $161.81 and hit $163.15 on the upside on Wednesday, eventually ending the session at $162.62, with a gain of 0.81% or 1.31 points. The heightened volatility saw the trading volume jump to 822,338 shares. Company has a market cap of $32,607 M.
In a different news, on Aug 1, 2016, Thomas Michael Kane (Executive VP, Chief HR Officer) sold 7,000 shares at $163.26 per share price. According to the SEC, on Jul 13, 2016, F Paul Hetterich (Exec. Vice President) sold 10,000 shares at $164.76 per share price. On Jul 6, 2016, David Eric Klein (Exec Vice Pres. & CFO) sold 14,300 shares at $166.27 per share price, according to the Form-4 filing with the securities and exchange commission.
Constellation Brands Inc. is an international beverage alcohol company. The Company’s operating segments include Beer Wine and Spirits and Corporate Operations and Other. The Company’s wine portfolio is complemented by select spirits brands and other select beverage alcohol products. It is a multi-category supplier (beer wine and spirits) of beverage alcohol in the United States. The Company’s customers include wholesale distributors retailers on premise locations and government alcohol beverage control agencies. In the United States the Company operates 19 wineries using varieties of grapes grown in the Napa Sonoma Monterey and San Joaquin regions of California. It also operates eight wineries in Canada four wineries in New Zealand and five wineries in Italy. The Company’s Canadian whisky requirements are produced and aged at its Canadian distillery in Lethbridge Alberta.