Constellation Brands
About: Constellation Brands is the largest provider of alcoholic beverages across the beer, wine, and spirits categories in the us, generating 82% of revenue from Mexican beer imports under top-selling brands such as Modelo and Corona. The rest of the business includes some remaining wine and spirits brands, categories where the company continue to prune assets in recent years. With its exclusive rights tied to the Mexican beer brands effective only in the us, the firm has little revenue exposure to international markets. Constellation owns a 26% stake in no-moat Canopy Growth, a medicinal and recreational cannabis producer in Canada, and has a 50/50 joint venture with glass manufacturer Owens-Illinois in Mexico.
Employees: 10,600
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
17% more first-time investments, than exits
New positions opened: 123 | Existing positions closed: 105
13% more repeat investments, than reductions
Existing positions increased: 522 | Existing positions reduced: 462
1% more funds holding
Funds holding: 1,297 [Q1] → 1,315 (+18) [Q2]
5.16% less ownership
Funds ownership: 85.13% [Q1] → 79.97% (-5.16%) [Q2]
8% less capital invested
Capital invested by funds: $40.8B [Q1] → $37.5B (-$3.3B) [Q2]
24% less call options, than puts
Call options by funds: $360M | Put options by funds: $475M
37% less funds holding in top 10
Funds holding in top 10: 19 [Q1] → 12 (-7) [Q2]
Research analyst outlook
18 Wall Street Analysts provided 1 year price targets over the past 3 months
18 analyst ratings
BMO Capital Andrew Strelzik 65% 1-year accuracy 20 / 31 met price target | 27%upside $305 | Outperform Maintained | 15 Oct 2024 |
TD Cowen Robert Moskow 82% 1-year accuracy 14 / 17 met price target | 12%upside $270 | Hold Downgraded | 8 Oct 2024 |
Barclays Lauren Lieberman 64% 1-year accuracy 46 / 72 met price target | 25%upside $300 | Overweight Maintained | 7 Oct 2024 |
B of A Securities Bryan Spillane 72% 1-year accuracy 13 / 18 met price target | 6%upside $255 | Neutral Downgraded | 7 Oct 2024 |
JP Morgan Andrea Teixeira 54% 1-year accuracy 31 / 57 met price target | 22%upside $293 | Overweight Maintained | 4 Oct 2024 |
Financial journalist opinion
Based on 33 articles about STZ published over the past 30 days