Constellation Brands (STZ)

• Market cap: $33.7B
• 1 day: -0.14%
• 5 days: 3.10%
• 1 month: -20.93%
• 3 months: -23.22%
• 6 months: -25.75%
• Year to date: -17.19%
• 1 year: -27.05%
• 5 years: -2.97%
• 10 years: 66.05%
• Sector: Consumer Staples
• Industry: Beverages

About: Constellation Brands is the largest provider of alcoholic beverages across the beer, wine, and spirits categories in the U.S., generating 80% 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 U.S., the firm has small revenue exposure to international markets. Constellation owns a 36% 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 Q3 regulatory filings by fund managers ($100M+ AUM)

5% less first-time investments, than exits

New positions opened: 95 | Existing positions closed: 100

6% less repeat investments, than reductions

Existing positions increased: 487 | Existing positions reduced: 517

2% less funds holding

Funds holding: 1,318 [Q2] → 1,294 (-24) [Q3]

5.65% less ownership

Funds ownership: 86.18% [Q2] → 80.53% (-5.65%) [Q3]

7% less capital invested

Capital invested by funds: $40.4B [Q2] → $37.7B (-$2.71B) [Q3]

42% less call options, than puts

Call options by funds: $395M | Put options by funds: $681M

50% less funds holding in top 10

Funds holding in top 10: 12 [Q2] → 6 (-6) [Q3]

Research analyst outlook

12 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $190 3% upside
• Avg. target: $239 30% upside
• High target: $308 67% upside

12 analyst ratings

• positive: 7 58%
• neutral: 5 42%
• negative: 0 0%

Truist Securities Bill Chappell 37% 1-year accuracy 11 / 30 met price target	3% upside $190	Hold Maintained	14 Jan 2025
Barclays Lauren Lieberman 36% 1-year accuracy 32 / 88 met price target	16% upside $214	Overweight Maintained	14 Jan 2025
Evercore ISI Group Robert Ottenstein 33% 1-year accuracy 5 / 15 met price target	36% upside $250	Outperform Maintained	13 Jan 2025
Piper Sandler Michael Lavery 40% 1-year accuracy 23 / 58 met price target	33% upside $245	Overweight Maintained	13 Jan 2025
Morgan Stanley Dara Mohsenian 54% 1-year accuracy 19 / 35 met price target	19% upside $220	Overweight Maintained	13 Jan 2025