Constellation Brands Inc. (NYSE:STZ) traded at a new 52-week high today of $245.92. So far today approximately 146,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.
Constellation Brands Inc. has overhead space with shares priced $245.69, or 69.2% below the average consensus analyst price target of $797.75.
Constellation Brands is the largest multi-category alcohol supplier in the U.S. The business is anchored by a portfolio of Mexican beer trademarks, including Corona and Modelo, for which it acquired exclusive and perpetual U.S. ownership from AB InBev. The latter had to divest these rights due to antitrust mandates as it consummated its 2013 acquisition of dominant Mexican brewer, Grupo Modelo. Constellation’s wine/spirits business is in transition, and it has divested several lower-margin assets, including myriad wine brands and its Ballast Point craft beer brand. The firm imports most products after manufacturing them abroad, going to market through independent wholesalers. It owns 38% of Canopy Growth, a leading provider of medicinal and recreational cannabis products.
Over the past year, Constellation Brands Inc. has traded in a range of $207.35 to $245.92 and is now at $245.69, 18% above that low.
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