Despite a challenging beer landscape in the quarter (owing in large part to tough weather in CA), beer shipments for the full year were up 11.1%, while depletions were up 10.4%. At present, 0 analysts call it Sell, while 7 think it is Hold.
Constellation Brands is the third largest wine company in the nation, selling 51 million cases a year ago.
Shares in Constellations Brands (NASDAQ:STZ) zipped higher on Thursday morning after the wine, beer and spirits seller reported strong fourth quarter earnings. 4,397,116 shares of the stock traded hands. Conning Inc. boosted its stake in shares of Constellation Brands by 1.7% in the third quarter. The company has market cap of $33.79 billion. The stock has a 50-day moving average of $160.05 and a 200-day moving average of $158.00. Avnet Inc. had 15 analyst reports since August 6, 2015 according to SRatingsIntel.
The impressive growth trajectory of one of the company's Mexican beer brands, Pacifico, could make it Constellation's next big hit, Sands said.
Psychedelic survival title We Happy Few is getting made into a film
Movie adaptations of video games isn't a new trend, and We Happy Few is the next to earn its own adaptation. The video game developer will be working with Gold Circle Entertainment as well as dj2 Entertainment.
Company shares have been seen trading -0.54% off of the 52 week high and 19.57% away from the 52 week low. Vetr raised Constellation Brands from a "hold" rating to a "buy" rating and set a $163.75 price target on the stock in a research report on Tuesday, March 7th. For the quarter, shares are performing at 2.43%. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Tpg Gru Holdg (Sbs) reported 0.47% in Constellation Brands, Inc. (NYSE:STZ). First Midwest Natl Bank Tru Division has 21,021 shares. If you are accessing this story on another site, it was stolen and republished in violation of USA and worldwide trademark & copyright law. Constellation Brands beat EPS estimates by 12 cents, while sales came in 2.4% above consensus, based on FactSet data.
In other Constellation Brands news, VP F Paul Hetterich purchased 752 shares of the business's stock in a transaction on Friday, January 13th. About 1.55M shares traded or 2.65% up from the average. Company insiders own 10.63% of the company's stock. Constellation Brands was the top growth contributor to American's $108 billion beer market for 2016, as the business also benefited from Constellation's acquisition of craft brewer Ballast Point.
"Our wine and spirits business achieved strong earnings growth and margin expansion driven by our fast-growing, high-margin Focus Brands, which collectively delivered depletion growth of 9% for the year".