Economy

Constellation branches out, buys stake in marijuana company

The company that owns Corona is getting into Canadian pot.

Constellation Brands, Inc is an global beverage alcohol company. The stock rose 1.21% or $2.57 reaching $215.57. 425,782 shares of the company traded hands. Callahan Advsr Ltd reported 1,968 shares. It has outperformed by 45.78% the S&P500.

Cibc World Markets Corp increased Republic Svcs Inc Com (NYSE:RSG) stake by 64,308 shares to 88,391 valued at $5.63M in 2017Q2. Constellation Brands Inc has a 52-week low of $144.00 and a 52-week high of $217.23.

Constellation Brands (NYSE:STZ) last released its quarterly earnings results on Wednesday, October 5th.

"We are thrilled to have the backing of such a well-established and respected organization such as Constellation Brands". More interesting news about Constellation Brands, Inc.

Moramarco said the investment would likely help Constellation Brands understand the cannabis business from the inside. Its up 0.34, from 0.82 in 2017Q1.

Several other institutional investors have also modified their holdings of STZ. (NYSE:STZ) for 696 shares. Wellington Management Group LLP acquired a new position in shares of Constellation Brands during the first quarter valued at $57,704,000. Tci Wealth Advsr holds 0.01% or 56 shares. Parkside National Bank & Trust And Trust reported 96 shares. 14,000 are owned by Bw Gestao De Investimentos Ltda. California-based Ar Asset Mgmt has invested 0.16% in Constellation Brands, Inc. (NYSE:STZ) or 1,816 shares. Argus Research maintained it with "Buy" rating and $154 target in Thursday, October 8 report. Therefore 67% are positive. Syngenta had 10 analyst reports since August 27, 2015 according to SRatingsIntel. The rating was downgraded by Bernstein on Tuesday, September 6 to "Market Perform". The firm has "Buy" rating by RBC Capital Markets given on Friday, June 30. (NYSE:STZ) rating on Monday, April 3. The company has a consensus rating of "Buy" and an average price target of $216.00. The stock of Constellation Brands, Inc. Finally, Credit Suisse Group AG started coverage on shares of Constellation Brands in a report on Thursday, September 15th. Century holds 0.32% or 1.61 million shares in its portfolio. It also reduced its holding in Applied Materials Inc. The shares were sold at an average price of $166.42, for a total transaction of $1,583,652.72. Maestri Luca sold $735,898 worth of stock or 4,757 shares. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The firm has "Hold" rating by Berenberg given on Monday, February 15. The rating was downgraded by Goldman Sachs to "Neutral" on Monday, July 24. The firm has "Buy" rating by Stifel Nicolaus given on Friday, December 11.

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