Constellation Breaks Pot Taboo, Opens Door for Major Brands [Bloomberg Business News]
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: Bloomberg Business News
Beer and weed could be a good mix for companies that sell both. The decision by Corona beer seller Constellation Brands Inc. to buy a minority stake in a Canadian pot company marked the first major foray of an alcohol brand into the nascent weed industry. With the taboo now broken, other purveyors of beer, wine and spirits may look for similar opportunities in the expanding world of legal pot. Brewers and distillers such as Molson Coors Brewing Co., Anheuser-Busch InBev NV, Diageo Plc and Pernod Ricard SA may already be examining the marijuana space, according to beverage-industry analysts. Constellation’s move only intensifies the competitive pressure. “There’s a threat on the horizon that if they don’t get into the game, they’re going to be left behind,” said Jason Zandberg, an analyst at PI Financial in Vancouver. Constellation, based in Victor, New York, agreed to pay about C$245 million ($191 million) for a 9.9 percent stake in Canopy Growth Corp.,
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- With the market oversold, we're buying a geopolitical hedge and an unfairly punished beer stock [MSNBC.com]MSNBC.com
- Constellation Brands, Inc. (NYSE:STZ) Q4 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Constellation Brands' Continued Beer Strength Offsets Its Wine And Spirits Weakness [Yahoo! Finance]Yahoo! Finance
- Constellation Brands, Inc. (NYSE: STZ) had its price target raised by analysts at Barclays PLC from $294.00 to $295.00. They now have an "overweight" rating on the stock.MarketBeat
- Constellation Brands, Inc. (NYSE: STZ) was upgraded by analysts at Argus from a "hold" rating to a "buy" rating. They now have a $306.00 price target on the stock.MarketBeat
STZ
Earnings
- 4/11/24 - Beat
STZ
Sec Filings
- 4/16/24 - Form 4
- 4/12/24 - Form 144
- 4/12/24 - Form 144
- STZ's page on the SEC website