Constellation Brands (STZ)

• Market cap: $32.2B
• 1 day: 2.11%
• 5 days: 6.97%
• 1 month: -3.88%
• 3 months: -26.91%
• 6 months: -28.10%
• Year to date: -20.94%
• 1 year: -28.35%
• 5 years: -15.15%
• 10 years: 53.08%
• 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 Q4 regulatory filings by fund managers ($100M+ AUM)

67% more funds holding in top 10

Funds holding in top 10: 6 [Q3] → 10 (+4) [Q4]

10% more first-time investments, than exits

New positions opened: 156 | Existing positions closed: 142

0.21% less ownership

Funds ownership: 80.54% [Q3] → 80.32% (-0.21%) [Q4]

2% less funds holding

Funds holding: 1,299 [Q3] → 1,269 (-30) [Q4]

13% less capital invested

Capital invested by funds: $37.7B [Q3] → $32.6B (-$5.06B) [Q4]

23% less repeat investments, than reductions

Existing positions increased: 403 | Existing positions reduced: 523

31% less call options, than puts

Call options by funds: $371M | Put options by funds: $540M

Research analyst outlook

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

• Low target: $190 8% upside
• Avg. target: $234 33% upside
• High target: $293 67% upside

12 analyst ratings

• positive: 6 50%
• neutral: 6 50%
• negative: 0 0%

RBC Capital Nik Modi 43% 1-year accuracy 17 / 40 met price target	67% upside $293	Outperform Reiterated	3 Feb 2025
Piper Sandler Michael Lavery 37% 1-year accuracy 22 / 60 met price target	14% upside $200	Neutral Downgraded	3 Feb 2025
Needham Gerald Pascarelli 15% 1-year accuracy 4 / 26 met price target	36% upside $240	Buy Maintained	27 Jan 2025
Truist Securities Bill Chappell 26% 1-year accuracy 7 / 27 met price target	8% upside $190	Hold Maintained	14 Jan 2025
Barclays Lauren Lieberman 43% 1-year accuracy 39 / 90 met price target	22% upside $214	Overweight Maintained	14 Jan 2025