Constellation Brands (STZ)
Market Price (11/5/2026): $146.3 | Market Cap: $24.8 BilInvestor Relations Sector: Consumer Staples | Industry: Distillers & Vintners
Constellation Brands (STZ)
Market Price (11/5/2026): $146.3Market Cap: $24.8 BilSector: Consumer StaplesIndustry: Distillers & Vintners
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.0%, FCF Yield is 7.4% Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 2.7 Bil Stock buyback supportStock Buyback 3Y Total is 2.7 Bil Low stock price volatilityVol 12M is 32% Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more. | Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -115% | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.9% Key risksSTZ key risks include [1] uncertain demand recovery from its core Hispanic consumer base, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 11%, Dividend Yield is 2.9%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.0%, FCF Yield is 7.4% |
| Attractive operating marginsOp Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 32% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 2.7 Bil |
| Stock buyback supportStock Buyback 3Y Total is 2.7 Bil |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, E-commerce & Digital Retail, and Health & Wellness Trends. Themes include Luxury Consumer Goods, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -115% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -4.3%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.9% |
| Key risksSTZ key risks include [1] uncertain demand recovery from its core Hispanic consumer base, Show more. |
Qualitative Assessment
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Constellation Brands (STZ) stock has gained about 15% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2027 Earnings Beat and Reaffirmed Guidance. Constellation Brands reported robust financial results for its fiscal Q2 2027, which ended August 31, 2026, exceeding analyst expectations. The company announced earnings of $3.74 per share, surpassing the consensus estimate of $3.62 by $0.12 per share. Revenue also outperformed, reaching $2.63 billion against an estimated $2.54 billion, marking a beat of $89.56 million and a 6.1% increase year-over-year. Management further instilled confidence by reiterating its fiscal 2027 comparable EPS guidance of $11.20-$11.90, suggesting results could land at the high end of this range due to positive trends observed in September.
2. Robust Growth in Key Beer Brands and Market Share Gains. The company demonstrated significant momentum in its beer portfolio during fiscal Q2 2027, positioning itself as the number one dollar-share gainer in the overall beverage alcohol market. Specific brands like Pacifico experienced approximately 20% growth, earning it a spot among the top 10 beer brands, while Victoria delivered mid-teens growth. This strong performance contributed to a 5% increase in overall beer revenue, totaling approximately $2.47 billion, despite some industry-wide headwinds such as a 0.6% decline in overall depletions.
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Constellation Brands (STZ) stock has gained about 15% since 7/31/2026 because of the following key factors:
1. Strong Fiscal Q2 2027 Earnings Beat and Reaffirmed Guidance. Constellation Brands reported robust financial results for its fiscal Q2 2027, which ended August 31, 2026, exceeding analyst expectations. The company announced earnings of $3.74 per share, surpassing the consensus estimate of $3.62 by $0.12 per share. Revenue also outperformed, reaching $2.63 billion against an estimated $2.54 billion, marking a beat of $89.56 million and a 6.1% increase year-over-year. Management further instilled confidence by reiterating its fiscal 2027 comparable EPS guidance of $11.20-$11.90, suggesting results could land at the high end of this range due to positive trends observed in September.
2. Robust Growth in Key Beer Brands and Market Share Gains. The company demonstrated significant momentum in its beer portfolio during fiscal Q2 2027, positioning itself as the number one dollar-share gainer in the overall beverage alcohol market. Specific brands like Pacifico experienced approximately 20% growth, earning it a spot among the top 10 beer brands, while Victoria delivered mid-teens growth. This strong performance contributed to a 5% increase in overall beer revenue, totaling approximately $2.47 billion, despite some industry-wide headwinds such as a 0.6% decline in overall depletions.
3. Strategic Expansion into the High-Growth Ready-to-Drink (RTD) Market. Constellation Brands announced a strategic acquisition on October 6, 2026, purchasing SpikedAde, a spirit-based ready-to-drink (RTD) brand. This move, involving an initial payment of $75 million, enhances the company's presence in a rapidly growing segment. The RTD category was the only major beverage alcohol category to show global volume growth in 2025, increasing by 3%, highlighting Constellation Brands' proactive approach to diversifying its portfolio and capitalizing on evolving consumer preferences towards convenient, flavor-oriented options.
4. Positive Analyst Sentiment and Upgrades. Following the strong fiscal Q2 2027 results and strategic developments, several financial analysts upgraded their ratings or raised price targets for Constellation Brands. Notably, Bank of America upgraded the stock from "underperform" to "neutral" on November 4, 2026, setting a new price target of $160, which implied a 16.1% upside. Other firms, including Jefferies and Freedom Broker, also raised their price targets or upgraded their ratings, reflecting increased confidence in the company's financial outlook and strategic direction.
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Stock Movement Drivers
Fundamental Drivers
The 12.6% change in STZ stock from 7/31/2026 to 11/4/2026 was primarily driven by a 5.7% change in the company's P/E Multiple.| (LTM values as of) | 7312026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 129.20 | 145.49 | 12.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9,057 | 9,209 | 1.7% |
| Net Income Margin (%) | 20.1% | 20.9% | 3.7% |
| P/E Multiple | 12.2 | 12.9 | 5.7% |
| Shares Outstanding (Mil) | 172 | 170 | 1.0% |
| Cumulative Contribution | 12.6% |
Market Drivers
7/31/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| STZ | 12.6% | |
| Market (SPY) | 2.6% | -11.5% |
| Sector (XLP) | 8.1% | 70.1% |
Fundamental Drivers
The -5.6% change in STZ stock from 4/30/2026 to 11/4/2026 was primarily driven by a -18.7% change in the company's P/E Multiple.| (LTM values as of) | 4302026 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 154.13 | 145.49 | -5.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9,139 | 9,209 | 0.8% |
| Net Income Margin (%) | 18.5% | 20.9% | 13.2% |
| P/E Multiple | 15.9 | 12.9 | -18.7% |
| Shares Outstanding (Mil) | 174 | 170 | 1.8% |
| Cumulative Contribution | -5.6% |
Market Drivers
4/30/2026 to 11/4/2026| Return | Correlation | |
|---|---|---|
| STZ | -5.6% | |
| Market (SPY) | 7.0% | -9.6% |
| Sector (XLP) | 9.8% | 61.0% |
Fundamental Drivers
The 14.0% change in STZ stock from 10/31/2025 to 11/4/2026 was primarily driven by a 64.5% change in the company's Net Income Margin (%).| (LTM values as of) | 10312025 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 127.64 | 145.49 | 14.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9,624 | 9,209 | -4.3% |
| Net Income Margin (%) | 12.7% | 20.9% | 64.5% |
| P/E Multiple | 18.4 | 12.9 | -29.8% |
| Shares Outstanding (Mil) | 176 | 170 | 3.1% |
| Cumulative Contribution | 14.0% |
Market Drivers
10/31/2025 to 11/4/2026| Return | Correlation | |
|---|---|---|
| STZ | 14.0% | |
| Market (SPY) | 13.4% | -3.9% |
| Sector (XLP) | 23.0% | 49.4% |
Fundamental Drivers
The -33.1% change in STZ stock from 10/31/2023 to 11/4/2026 was primarily driven by a -51.0% change in the company's P/E Multiple.| (LTM values as of) | 10312023 | 11042026 | Change |
|---|---|---|---|
| Stock Price ($) | 217.49 | 145.49 | -33.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 9,786 | 9,209 | -5.9% |
| Net Income Margin (%) | 15.5% | 20.9% | 34.8% |
| P/E Multiple | 26.3 | 12.9 | -51.0% |
| Shares Outstanding (Mil) | 183 | 170 | 7.6% |
| Cumulative Contribution | -33.1% |
Market Drivers
10/31/2023 to 11/4/2026| Return | Correlation | |
|---|---|---|
| STZ | -33.1% | |
| Market (SPY) | 89.7% | 17.3% |
| Sector (XLP) | 46.0% | 51.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| STZ Return | 16% | -6% | 6% | -7% | -36% | 9% | -26% |
| Peers Return | 18% | -6% | 2% | -28% | -24% | -15% | -47% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 11% | 102% |
Monthly Win Rates [3] | |||||||
| STZ Win Rate | 58% | 58% | 58% | 50% | 42% | 64% | |
| Peers Win Rate | 50% | 56% | 52% | 35% | 40% | 45% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| STZ Max Drawdown | -14% | -16% | -16% | -18% | -41% | -31% | |
| Peers Max Drawdown | -42% | -31% | -26% | -40% | -43% | -42% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TAP, SAM, MGPI, WVVI. See STZ Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/4/2026 (YTD)
How Low Can It Go
| Event | STZ | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.6% | -9.5% |
| % Gain to Breakeven | 18.4% | 10.5% |
| Time to Breakeven | 159 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -15.7% | -24.5% |
| % Gain to Breakeven | 18.7% | 32.4% |
| Time to Breakeven | 38 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.9% | -33.7% |
| % Gain to Breakeven | 95.6% | 50.9% |
| Time to Breakeven | 238 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.1% | -19.2% |
| % Gain to Breakeven | 39.1% | 23.8% |
| Time to Breakeven | 105 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -11.9% | -3.7% |
| % Gain to Breakeven | 13.4% | 3.9% |
| Time to Breakeven | 110 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.5% | -17.9% |
| % Gain to Breakeven | 29.0% | 21.8% |
| Time to Breakeven | 178 days | 123 days |
In The Past
Constellation Brands's stock fell -3.8% during the 2025 US Tariff Shock. Such a loss loss requires a 4.0% gain to breakeven.
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| Event | STZ | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -48.9% | -33.7% |
| % Gain to Breakeven | 95.6% | 50.9% |
| Time to Breakeven | 238 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -28.1% | -19.2% |
| % Gain to Breakeven | 39.1% | 23.8% |
| Time to Breakeven | 105 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -22.5% | -17.9% |
| % Gain to Breakeven | 29.0% | 21.8% |
| Time to Breakeven | 178 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -55.9% | -53.4% |
| % Gain to Breakeven | 126.9% | 114.4% |
| Time to Breakeven | 1238 days | 1085 days |
In The Past
Constellation Brands's stock fell -3.8% during the 2025 US Tariff Shock. Such a loss loss requires a 4.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Constellation Brands (STZ)
Constellation Brands, Inc. (STZ) is a prominent international company specializing in the production, importation, marketing, and sale of alcoholic beverages. Headquartered in Victor, New York, the company operates across significant global markets including the United States, Canada, Mexico, New Zealand, and Italy, offering a broad selection of products to consumers worldwide.
The company's diverse product portfolio features some of the industry's most recognized brands across three main categories. In beer, Constellation Brands is known for popular Mexican imports such as Corona Extra, Modelo Especial, and Pacifico. Its extensive wine offerings include well-regarded labels like Kim Crawford, Meiomi, Robert Mondavi, and The Prisoner Wine Company. For spirits, the company's brands encompass names such as SVEDKA vodka, High West whiskey, and Casa Noble tequila.
Constellation Brands distributes its products through a well-established network to reach its target consumers. Its primary customers include a wide array of wholesale distributors, various retailers (such as grocery stores and liquor stores), and on-premise locations like bars and restaurants. The company also supplies state alcohol beverage control agencies, ensuring comprehensive market penetration for its beer, wine, and spirits brands.
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Constellation Brands is like Procter & Gamble for alcoholic beverages.
Think of it as the Coca-Cola of alcohol.
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- Beer: Constellation Brands produces and imports a wide range of beer brands, including popular choices like Corona and Modelo, encompassing various styles and hard seltzers.
- Wine: The company offers a diverse portfolio of wine brands, from everyday selections to premium labels such as Kim Crawford, Meiomi, and Robert Mondavi.
- Spirits: Constellation Brands markets several spirits brands, including tequila (Casa Noble, Mi CAMPO), whiskey (High West), and vodka (SVEDKA).
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Constellation Brands (STZ) sells its products primarily to other companies and agencies, operating on a business-to-business (B2B) model. Its major customers fall into the following categories:
- Wholesale Distributors: These companies purchase products directly from Constellation Brands and then distribute them to retailers and on-premise locations. Many large alcohol wholesale distributors are privately held.
- Retailers: These include grocery stores, mass merchandisers, and dedicated liquor stores that sell Constellation Brands' products directly to consumers. Major public retail companies that would be considered significant customers due to their scale and broad distribution of alcoholic beverages include:
- Walmart Inc. (WMT)
- The Kroger Co. (KR)
- Target Corporation (TGT)
- Costco Wholesale Corporation (COST)
- Albertsons Companies, Inc. (ACI)
- On-Premise Locations: This category includes bars, restaurants, hotels, and other venues where alcohol is consumed on-site.
- State Alcohol Beverage Control Agencies: In some states, these government agencies act as the sole wholesale distributor or control retail sales of alcoholic beverages.
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Bill Newlands, President and Chief Executive Officer
Bill Newlands is Constellation's President and Chief Executive Officer, a role he assumed in March 2019. He joined the company in 2015 as Executive Vice President, Chief Growth Officer, and subsequently led the Wine & Spirits Division, served as Chief Operating Officer, and then as President. Prior to joining Constellation Brands, Mr. Newlands held several senior leadership roles in the beverage alcohol industry for over 30 years. This includes serving as President, North America at Beam, Inc., where under his leadership, Beam became one of the fastest-growing companies in its category. He also previously served as President and CEO of Allied Domecq Wines USA (2002-2005), CEO and board director of wine.com (1999-2001), and Managing Director, U.S. and Global Marketing Officer at LVMH Chandon Estates (1996-1999). Mr. Newlands has also served as a director of Hormel Foods Corporation since November 2018 and as its Lead Director since January 2023.
Garth Hankinson, Executive Vice President and Chief Financial Officer
Garth Hankinson is Constellation's Executive Vice President and Chief Financial Officer, a position he was promoted to, effective January 13, 2020. Mr. Hankinson joined Constellation Brands in 2001 and has held various senior leadership roles within the company, including Manager, Director, and Vice President of Corporate Development. He also served as Vice President, Business Development for Vincor Canada, an operating company previously owned by Constellation Brands. Before his appointment as CFO, he was Senior Vice President, Corporate Development and Financial Planning and Analysis, overseeing the company's inorganic growth initiatives, including identifying potential targets for mergers, acquisitions, joint ventures, strategic partnerships, or divestitures, and managing the company's venture investment fund. Prior to joining Constellation, Mr. Hankinson worked in sales operations and business intelligence at Xerox Corporation and as an auditor and analyst at Citicorp, Inc.
Jim Bourdeau, Executive Vice President and Strategic Advisor
Jim Bourdeau serves as Constellation's Executive Vice President and Strategic Advisor. In this role, he reports directly to the President and Chief Executive Officer. Previously, Mr. Bourdeau was Constellation's Chief Legal Officer, where he was responsible for corporate governance, government affairs, and all company-wide legal functions.
Sam Glaetzer, Executive Vice President and President, Wine & Spirits Division
Sam Glaetzer is Constellation's Executive Vice President and President, Wine & Spirits Division. He is responsible for all U.S. and international commercial and operations functions related to the company’s wine and spirits business. Mr. Glaetzer joined Constellation in New Zealand in 2014, bringing over 30 years of industry experience. His background includes leadership positions with Treasury Wine Estates/Foster's, where he held roles such as Environmental Engineer, Vintage Winemaker, Senior Winemaker, Group Winemaker, and General Manager for Winery Operations and Production.
Paula Erickson, Executive Vice President and Chief Human Resources Officer
Paula Erickson is Constellation's Executive Vice President and Chief Human Resources Officer, a role she assumed effective April 21, 2025. She is responsible for leading the company's human resources division. Before joining Constellation Brands, Ms. Erickson was the Senior Vice President, Chief People, Culture & Communications Officer at Beam Suntory Inc. Her career also includes 17 years with Ace Hardware Corporation, where she held various roles across human resources, corporate communications, public relations, advertising, and brand development.
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1. Dependence on Mexican Beer Brands and Production Facilities/Supply Chain: Constellation Brands is heavily reliant on its Mexican beer brands, such as Corona and Modelo, and the production capabilities of its breweries in Mexico to meet demand. The ongoing expansion, optimization, and construction activities at these facilities are multi-billion-dollar endeavors that carry inherent risks of completion delays, cost overruns, and potential asset impairments. The company also faces operational risks due to its dependence on a limited group of suppliers for critical raw materials, like glass bottles and aluminum cans, which could lead to supply chain disruptions. Furthermore, the business is exposed to macroeconomic headwinds and regulatory changes, including potential tariffs on imports from Mexico, which could increase costs and impact profitability.
2. Declining Performance and Impairment in Wine and Spirits Segment: Constellation Brands has experienced significant challenges in its Wine and Spirits segment, including declining consumer demand and retailer destocking, which have led to a notable decrease in net sales. This segment has also seen substantial goodwill and intangible asset impairments, reflecting underlying difficulties and a need for strategic reassessment. The company has engaged in strategic divestitures within this segment to focus on premiumization and higher-margin assets, indicating ongoing efforts to address the underperformance.
3. Shifts in Consumer Preferences and Overall Decline in Alcohol Consumption: A significant long-term risk for Constellation Brands is the potential for declining consumption of its alcoholic products due to evolving consumer preferences, economic conditions, and regulatory shifts. There is an observed trend of lower alcohol consumption among younger generations, and concerns exist regarding the potential impact of new anti-obesity drugs on overall alcohol consumption. The company's key beer segment has already shown signs of softening demand, particularly among its core Hispanic consumer base, which could erode market share and affect future growth prospects.
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The increasing legalization and mainstream acceptance of cannabis products in various markets represent a clear emerging threat to Constellation Brands' core alcohol business. As cannabis becomes more accessible and socially normalized, it could act as a direct substitute for alcohol among consumers, leading to a potential shift in discretionary spending and consumption habits away from traditional beer, wine, and spirits.
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Constellation Brands operates in the beer, wine, and spirits markets. The addressable markets for their main products are substantial in both the U.S. and globally.
Beer Market
- U.S. Market: The U.S. beer market was valued at approximately USD 130.07 billion in 2024. Another estimate placed the U.S. beer market at USD 110.9 billion in 2023, projected to reach USD 161.06 billion by 2033.
- Global Market: The global beer market size was estimated at USD 839.31 billion in 2024 and is projected to reach USD 1,248.3 billion by 2030, growing at a compound annual growth rate of 6.8% from 2025 to 2030.
Wine Market
- U.S. Market: The U.S. wine market size was estimated at USD 75.3 billion in 2024 and is projected to reach USD 157.3 billion by 2033.
- Global Market: The global wine market size was valued at USD 508.14 billion in 2024 and is estimated to reach USD 793.94 billion by 2033.
Spirits Market
- U.S. Market: The U.S. spirits market size was estimated at USD 76.16 billion in 2024 and is expected to reach USD 112.87 billion by 2033.
- Global Market: The global spirits market size was estimated at USD 424.82 billion in 2024 and is expected to reach USD 641.84 billion by 2033. The total retail value of the global spirits market was estimated at USD 811.261 billion in 2023.
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Expected Drivers of Future Revenue Growth for Constellation Brands (STZ)
- Continued Strength and Expansion of the Core Beer Portfolio: Constellation Brands expects sustained high-single-digit net sales growth in its beer business, primarily driven by the strong performance and market share gains of iconic brands such as Modelo Especial and Pacifico. Modelo Especial has consistently been a top share gainer and the leading beer brand in the U.S. market, while Pacifico has demonstrated outstanding depletion growth.
- Premiumization Strategy Across Beer, Wine, and Spirits: The company is focused on its premium and high-end offerings across its entire portfolio. This strategy includes leveraging higher-margin products in its wine and spirits segments, with an emphasis on growing direct-to-consumer (DTC) and international markets for its premium wine, fine wine, and craft spirits brands.
- Strategic Pricing Actions: Constellation Brands actively implements strategic pricing initiatives, including annual price increases of approximately 1-2%, across its product portfolio. These targeted price adjustments, applied at the SKU-level and market-specific, contribute directly to revenue growth.
- Product Innovation and Brand Extensions: The company continues to drive growth through disciplined innovation and the launch of new products and brand extensions within its key categories. Examples include the success of new offerings within the Modelo Chelada franchise and the introduction of products like Corona Sun Brew and Modelo Oro, which capitalize on existing brand equity and consumer trends.
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Share Repurchases
- Constellation Brands authorized a new $4 billion share repurchase program on April 9, 2025, which is set to expire on February 29, 2028. This authorization replaced a previous $2 billion program that had approximately $1.5 billion remaining.
- During the first half of fiscal year 2026 (through August 2025), the company executed $604 million in share repurchases.
- An accelerated share repurchase (ASR) agreement of $500 million was entered into on April 7, 2022.
Outbound Investments
- Constellation Brands divested its mainstream wine brands, including Woodbridge, Meiomi, Robert Mondavi Private Selection, Cook's, SIMI, and J. Rogét sparkling wine, to The Wine Group. The agreement was announced on April 9, 2025, and the transaction closed on June 2, 2025.
- This divestiture is part of a strategic shift to focus on higher-growth, higher-margin premium wine and spirits brands, primarily those priced at $15 and above.
- The company also divested the SVEDKA brand.
Capital Expenditures
- For fiscal year 2026, Constellation Brands projects capital expenditures to be approximately $1.2 billion.
- The primary focus of these expenditures is a significant investment of about $1.0 billion in the beer business for capacity expansion, including the buildout of a third brewery in Veracruz, Mexico, and the expansion of existing breweries.
- Historically, capital expenditures averaged $1.082 billion from fiscal years 2021 to 2025, with a peak of $1.269 billion in fiscal year 2024 and $1.214 billion in fiscal year 2025.
Peer Outperformance in Distillers & Vintners
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Consumer Staples Merchandise Retail | 12 | 27.0% | 61.3% | 60.6% | WMT 173% · PSMT 132% · COST 114% |
| Tobacco | 6 | -21.6% | -5.1% | 45.9% | PM 184% · MO 157% |
| Food Retail | 6 | 10.6% | 62.5% | 38.7% | CASY 249% · SFM 136% · KR 77% |
| Soft Drinks & Non-alcoholic Beverages | 13 | 14.4% | -4.8% | 16.2% | COKE 416% · COCO 372% · CCHGY 139% |
| Food Distributors | 9 | 8.3% | 23.9% | 13.2% | CHEF 199% · USFD 197% · PFGC 137% |
| Brewers | 3 | 11.5% | -18.6% | 10.1% | BUD 51% · TAP 10% · SAM -55% |
| Household Products | 19 | 25.7% | 3.2% | -13.3% | IPAR 53% · CL 44% · CHD 33% |
| Personal Care Products | 4 | 6.5% | 12.4% | -15.2% | ELF 276% · PG 31% · COTY -61% |
| Packaged Foods & Meats | 48 | -19.7% | -29.6% | -32.2% | CALM 138% · TR 44% · SJM 27% |
| Agricultural Products & Services | 11 | -4.4% | -5.0% | -37.6% | ADM 27% · BG 20% · INGR 16% |
| Distillers & Vintners ← | 5 | -25.2% | -56.7% | -74.6% | STZ -27% · BF-B -52% |
| Drug Retail | 3 | -66.5% | -82.8% | -95.5% |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 94.37 |
| Mkt Cap | 5.2 |
| Rev LTM | 5,558 |
| Op Inc LTM | 789 |
| FCF LTM | 756 |
| FCF 3Y Avg | 701 |
| CFO LTM | 1,106 |
| CFO 3Y Avg | 1,074 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.7% |
| Rev Chg 3Y Avg | -1.1% |
| Rev Chg Q | -2.4% |
| QoQ Delta Rev Chg LTM | -0.7% |
| Op Inc Chg LTM | -24.1% |
| Op Inc Chg 3Y Avg | -2.4% |
| Op Mgn LTM | 9.3% |
| Op Mgn 3Y Avg | 10.8% |
| QoQ Delta Op Mgn LTM | -1.4% |
| CFO/Rev LTM | 15.1% |
| CFO/Rev 3Y Avg | 14.6% |
| FCF/Rev LTM | 10.8% |
| FCF/Rev 3Y Avg | 10.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.2 |
| P/S | 1.0 |
| P/Op Inc | 7.0 |
| P/EBIT | 2.7 |
| P/E | -3.6 |
| P/CFO | 8.8 |
| Total Yield | -13.6% |
| Dividend Yield | 1.4% |
| FCF Yield 3Y Avg | 7.7% |
| D/E | 0.7 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 23.9% |
| 3M Rtn | 8.3% |
| 6M Rtn | 0.3% |
| 12M Rtn | 7.5% |
| 3Y Rtn | -33.9% |
| 1M Excs Rtn | 25.1% |
| 3M Excs Rtn | 8.7% |
| 6M Excs Rtn | -2.5% |
| 12M Excs Rtn | -2.5% |
| 3Y Excs Rtn | -114.0% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Beer | 8,315 | 8,540 | 8,163 | 7,465 | 6,752 |
| Wine and Spirits | 824 | 1,669 | 1,799 | 1,988 | 2,069 |
| Corporate Operations and Other | 0 | 0 | 0 | 0 | |
| Total | 9,139 | 10,209 | 9,962 | 9,453 | 8,821 |
| $ Mil | 2026 | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Beer | 3,161 | 3,394 | 3,094 | 2,862 | 2,703 |
| Wine and Spirits | 10 | 325 | 399 | 453 | 471 |
| Comparable Adjustments | -222 | -3,120 | -76 | -194 | -604 |
| Corporate Operations and Other | -228 | -245 | -248 | -278 | -238 |
| Total | 2,721 | 355 | 3,170 | 2,843 | 2,332 |
| $ Mil | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|
| Beer | 15,044 | 12,325 | 11,325 | 9,901 | 8,289 |
| Wine and Spirits | 7,306 | 7,217 | 6,977 | 6,770 | 6,508 |
| Corporate Operations and Other | 6,882 | 996 | 300 | 294 | 347 |
| Total | 29,232 | 20,539 | 18,602 | 16,965 | 15,144 |
Price Behavior
| Market Price | $145.49 | |
| Market Cap ($ Bil) | 24.8 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -10.7% | |
| 50 Days | 200 Days | |
| DMA Price | $124.82 | $139.32 |
| DMA Trend | down | down |
| Distance from DMA | 16.6% | 4.4% |
| 3M | 1YR | |
| Volatility | 34.3% | 31.9% |
| Downside Capture | -78.72 | -8.60 |
| Upside Capture | -55.08 | 2.48 |
| Correlation (S&P 500) | -25.5% | -5.4% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -1.91 | -1.05 | -0.59 | -0.33 | -0.13 | 0.31 |
| Up Beta | -3.08 | -0.74 | -0.19 | -0.15 | -0.27 | 0.43 |
| Down Beta | -1.32 | -2.25 | -2.01 | -0.81 | -0.44 | 0.25 |
| Up Capture | -48% | -53% | -16% | -25% | 5% | 3% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 13 | 18 | 30 | 59 | 117 | 364 |
| Down Capture | -368% | -96% | -53% | -10% | -4% | 65% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 9 | 25 | 34 | 67 | 134 | 388 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STZ | |
|---|---|---|---|---|
| STZ | 14.5% | 31.9% | 0.44 | - |
| Sector ETF (XLP) | 24.1% | 15.7% | 1.17 | 49.4% |
| Equity (SPY) | 13.2% | 12.9% | 0.68 | -3.9% |
| Gold (GLD) | 1.0% | 28.8% | 0.03 | 5.7% |
| Commodities (DBC) | 35.9% | 21.2% | 1.34 | -12.2% |
| Real Estate (VNQ) | 14.3% | 14.1% | 0.70 | 34.1% |
| Bitcoin (BTCUSD) | -28.2% | 43.4% | -0.65 | -12.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STZ | |
|---|---|---|---|---|
| STZ | -5.6% | 25.8% | -0.24 | - |
| Sector ETF (XLP) | 8.0% | 14.0% | 0.34 | 53.0% |
| Equity (SPY) | 12.5% | 17.2% | 0.55 | 29.9% |
| Gold (GLD) | 17.3% | 19.1% | 0.73 | 6.9% |
| Commodities (DBC) | 8.0% | 19.6% | 0.29 | 1.4% |
| Real Estate (VNQ) | 1.8% | 18.9% | -0.01 | 41.9% |
| Bitcoin (BTCUSD) | 5.5% | 51.5% | 0.29 | 6.2% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with STZ | |
|---|---|---|---|---|
| STZ | 0.3% | 27.5% | 0.04 | - |
| Sector ETF (XLP) | 8.5% | 15.0% | 0.43 | 52.7% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 44.7% |
| Gold (GLD) | 11.9% | 16.5% | 0.59 | 6.3% |
| Commodities (DBC) | 7.4% | 18.1% | 0.33 | 12.6% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.23 | 48.9% |
| Bitcoin (BTCUSD) | 61.0% | 66.2% | 1.01 | 9.6% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Updated 11/5/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/6/2026 | 2.4% | 9.8% | 26.8% |
| 6/30/2026 | -1.6% | -6.3% | -5.5% |
| 4/8/2026 | 8.5% | 9.1% | 0.7% |
| 1/7/2026 | -2.2% | 6.6% | 16.0% |
| 10/6/2025 | 1.0% | 2.0% | -6.1% |
| 7/1/2025 | 4.5% | 3.4% | 0.4% |
| 4/9/2025 | 0.7% | -0.2% | 4.2% |
| 1/10/2025 | 2.3% | 1.4% | -8.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 15 | 15 |
| # Negative | 9 | 9 | 9 |
| Median Positive | 1.0% | 3.7% | 4.2% |
| Median Negative | -2.2% | -2.9% | -5.2% |
| Max Positive | 8.5% | 9.8% | 26.8% |
| Max Negative | -4.7% | -6.3% | -9.1% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/6/2026 | 2.4% | 9.8% | 26.8% |
| 6/30/2026 | -1.6% | -6.3% | -5.5% |
| 4/8/2026 | 8.5% | 9.1% | 0.7% |
| 1/7/2026 | -2.2% | 6.6% | 16.0% |
| 10/6/2025 | 1.0% | 2.0% | -6.1% |
| 7/1/2025 | 4.5% | 3.4% | 0.4% |
| 4/9/2025 | 0.7% | -0.2% | 4.2% |
| 1/10/2025 | 2.3% | 1.4% | -8.9% |
| 10/3/2024 | -4.7% | -6.0% | -9.1% |
| 7/3/2024 | -3.3% | -2.3% | -5.2% |
| 4/11/2024 | 1.3% | -2.9% | -1.2% |
| 1/5/2024 | 1.0% | 4.4% | 0.5% |
| 10/5/2023 | -3.2% | -4.2% | -4.2% |
| 6/30/2023 | 0.5% | 2.3% | 9.7% |
| 4/6/2023 | -0.0% | 1.6% | 2.0% |
| 1/5/2023 | 2.7% | 7.0% | 11.2% |
| 10/6/2022 | -4.2% | -2.9% | 5.6% |
| 6/30/2022 | 1.0% | 3.9% | 4.8% |
| 4/7/2022 | 0.8% | 3.7% | 1.9% |
| 1/6/2022 | 0.6% | 0.9% | -2.9% |
| 10/6/2021 | 2.3% | 3.5% | 4.0% |
| 6/30/2021 | -0.8% | -2.9% | -4.1% |
| 4/8/2021 | -0.0% | 4.6% | 7.8% |
| 1/7/2021 | 0.6% | -2.2% | 0.2% |
| SUMMARY STATS | |||
| # Positive | 15 | 15 | 15 |
| # Negative | 9 | 9 | 9 |
| Median Positive | 1.0% | 3.7% | 4.2% |
| Median Negative | -2.2% | -2.9% | -5.2% |
| Max Positive | 8.5% | 9.8% | 26.8% |
| Max Negative | -4.7% | -6.3% | -9.1% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2026 | 10/07/2026 | 10-Q |
| 05/31/2026 | 07/01/2026 | 10-Q |
| 02/28/2026 | 04/22/2026 | 10-K |
| 11/30/2025 | 01/08/2026 | 10-Q |
| 08/31/2025 | 10/07/2025 | 10-Q |
| 05/31/2025 | 07/02/2025 | 10-Q |
| 02/28/2025 | 04/23/2025 | 10-K |
| 11/30/2024 | 01/10/2025 | 10-Q |
| 08/31/2024 | 10/03/2024 | 10-Q |
| 05/31/2024 | 07/03/2024 | 10-Q |
| 02/29/2024 | 04/23/2024 | 10-K |
| 11/30/2023 | 01/05/2024 | 10-Q |
| 08/31/2023 | 10/05/2023 | 10-Q |
| 05/31/2023 | 06/30/2023 | 10-Q |
| 02/28/2023 | 04/20/2023 | 10-K |
| 11/30/2022 | 01/05/2023 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 08/31/2026 | 10/07/2026 | 10-Q |
| 05/31/2026 | 07/01/2026 | 10-Q |
| 02/28/2026 | 04/22/2026 | 10-K |
| 11/30/2025 | 01/08/2026 | 10-Q |
| 08/31/2025 | 10/07/2025 | 10-Q |
| 05/31/2025 | 07/02/2025 | 10-Q |
| 02/28/2025 | 04/23/2025 | 10-K |
| 11/30/2024 | 01/10/2025 | 10-Q |
| 08/31/2024 | 10/03/2024 | 10-Q |
| 05/31/2024 | 07/03/2024 | 10-Q |
| 02/29/2024 | 04/23/2024 | 10-K |
| 11/30/2023 | 01/05/2024 | 10-Q |
| 08/31/2023 | 10/05/2023 | 10-Q |
| 05/31/2023 | 06/30/2023 | 10-Q |
| 02/28/2023 | 04/20/2023 | 10-K |
| 11/30/2022 | 01/05/2023 | 10-Q |
| 08/31/2022 | 10/06/2022 | 10-Q |
| 05/31/2022 | 06/30/2022 | 10-Q |
| 02/28/2022 | 04/21/2022 | 10-K |
| 11/30/2021 | 01/06/2022 | 10-Q |
| 08/31/2021 | 10/06/2021 | 10-Q |
| 05/31/2021 | 06/30/2021 | 10-Q |
| 02/28/2021 | 04/20/2021 | 10-K |
| 11/30/2020 | 01/07/2021 | 10-Q |
| 08/31/2020 | 10/01/2020 | 10-Q |
| 05/31/2020 | 07/01/2020 | 10-Q |
| 02/29/2020 | 04/21/2020 | 10-K |
| 11/30/2019 | 01/08/2020 | 10-Q |
Recent Forward Guidance
Updated 10/7/2026Latest: Q2 2027 Earnings Reported 10/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Comparable Diluted EPS | Reported | 13.6 | 13.75 | 13.9 | 0.0% | Affirmed | Guidance: 13.75 for 2027 | |
| 2027 Operating Cash Flow | Reported | 2.90 Bil | 3.00 Bil | 3.10 Bil | 3.4% | Raised | Guidance: 2.90 Bil for 2027 | |
| 2027 Enterprise Net Sales Growth | Reported | 4.0% | 5.0% | 6.0% | ||||
| 2027 Beer Net Sales Growth | Reported | 6.0% | 7.0% | 8.0% | -1.0% | Lowered | Guidance: 8.0% for 2027 | |
| 2027 Wine and Spirits Net Sales Growth | Reported | -6.0% | -5.0% | -4.0% | ||||
| 2027 Beer Operating Income Growth | Reported | 8.0% | 9.0% | 10.0% | 0.0% | Affirmed | Guidance: 9.0% for 2027 | |
| 2027 Wine and Spirits Operating Income Growth | Reported | -18.0% | -17.0% | -16.0% | ||||
| 2027 Reported Diluted EPS | Reported | 4.1 | 4.25 | 4.4 | ||||
| 2027 Capital Expenditures | Reported | 1.40 Bil | 1.45 Bil | 1.50 Bil | ||||
| 2027 Free Cash Flow | Reported | 1.40 Bil | 1.50 Bil | 1.60 Bil | 3.4% | Raised | Guidance: 1.45 Bil for 2027 | |
Prior: Q1 2027 Earnings Reported 6/30/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Comparable EPS | Reported | 13.6 | 13.75 | 13.9 | 19.0% | Raised | Guidance: 11.55 for 2027 | |
| 2027 Operating Cash Flow | Reported | 2.80 Bil | 2.90 Bil | 3.00 Bil | 18.4% | Raised | Guidance: 2.45 Bil for 2027 | |
| 2027 Net Sales Growth (Beer) | Reported | 7.0% | 8.0% | 9.0% | 8.0% | Raised | Guidance: 0.0% for 2027 | |
| 2027 Operating Income Growth (Beer) | Reported | 8.0% | 9.0% | 10.0% | ||||
| 2027 Free Cash Flow | Reported | 1.40 Bil | 1.45 Bil | 1.50 Bil | -12.1% | Lowered | Guidance: 1.65 Bil for 2027 | |
Q4 2026 Earnings Reported 4/8/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2027 Comparable EPS | Reported | 11.2 | 11.55 | 11.9 | 0.9% | Higher New | Actual: 11.45 for 2026 | |
| 2027 Operating cash flow | Reported | 2.40 Bil | 2.45 Bil | 2.50 Bil | -3.9% | Lower New | Actual: 2.55 Bil for 2026 | |
| 2027 Enterprise organic net sales growth | Reported | -1.0% | 0.0% | 1.0% | 5.0% | Higher New | Actual: -5.0% for 2026 | |
| 2027 Beer net sales growth | Reported | -1.0% | 0.0% | 1.0% | 3.0% | Higher New | Actual: -3.0% for 2026 | |
| 2027 Wine & Spirits organic net sales growth | Reported | -1.0% | 0.0% | 1.0% | 18.5% | Higher New | Actual: -18.5% for 2026 | |
| 2027 Enterprise operating margin | Reported | 32.0% | 32.5% | 33.0% | ||||
| 2027 Beer operating margin | Reported | 37.0% | 37.5% | 38.0% | ||||
| 2027 Wine & Spirits operating margin | Reported | 5.0% | 5.5% | 6.0% | ||||
| 2027 Reported EPS | Reported | 11.1 | 11.45 | 11.8 | 16.0% | Higher New | Actual: 9.87 for 2026 | |
| 2027 Capital expenditures | Reported | 800.00 Mil | -33.3% | Lower New | Actual: 1.20 Bil for 2026 | |||
| 2027 Free cash flow | Reported | 1.60 Bil | 1.65 Bil | 1.70 Bil | 22.2% | Higher New | Actual: 1.35 Bil for 2026 | |
Q3 2026 Earnings Reported 1/7/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Comparable EPS | Reported | 11.3 | 11.45 | 11.6 | 0 | 0 | Affirmed | Guidance: 11.45 for 2026 |
| 2026 Operating Cash Flow | Reported | 2.50 Bil | 2.55 Bil | 2.60 Bil | 0 | Affirmed | Guidance: 2.55 Bil for 2026 | |
| 2026 Enterprise Organic Net Sales Growth | Reported | -6.0% | -5.0% | -4.0% | 0 | Affirmed | Guidance: -5.0% for 2026 | |
| 2026 Beer Net Sales Growth | Reported | -4.0% | -3.0% | -2.0% | 0 | Affirmed | Guidance: -3.0% for 2026 | |
| 2026 Wine and Spirits Organic Net Sales Growth | Reported | -20.0% | -18.5% | -17.0% | 0 | Affirmed | Guidance: -18.5% for 2026 | |
| 2026 Reported EPS | Reported | 9.72 | 9.87 | 10.02 | -1.4% | -14.0% | Lowered | Guidance: 10.01 for 2026 |
| 2026 Capital Expenditures | Reported | 1.20 Bil | 0 | Affirmed | Guidance: 1.20 Bil for 2026 | |||
| 2026 Free Cash Flow | Reported | 1.30 Bil | 1.35 Bil | 1.40 Bil | 0 | Affirmed | Guidance: 1.35 Bil for 2026 | |
Insider Activity
Updated 7/24/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bourdeau, James O | EVP and Senior Advisor | Direct | Sell | 5132026 | 143.24 | 4,407 | 631,259 | 1,304,773 | Form |
| 2 | Hernandez, Ernesto M | Direct | Sell | 4282026 | 153.91 | 2,000 | 307,830 | 397,409 | Form | |
| 3 | Glaetzer, Samuel J | EVP & Pres. Wine and Spirits | Direct | Sell | 2172026 | 153.78 | 555 | 85,345 | 402,122 | Form |
| 4 | Bourdeau, James O | EVP & Chief Legal Officer | Direct | Sell | 7222025 | 169.00 | 821 | 138,749 | 1,595,022 | Form |
| 5 | Baldwin, Christopher J | Direct | Buy | 7092025 | 169.62 | 1,000 | 169,620 | 374,521 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Bourdeau, James O | EVP and Senior Advisor | Direct | Sell | 5132026 | 143.24 | 4,407 | 631,259 | 1,304,773 | Form |
| 2 | Hernandez, Ernesto M | Direct | Sell | 4282026 | 153.91 | 2,000 | 307,830 | 397,409 | Form | |
| 3 | Glaetzer, Samuel J | EVP & Pres. Wine and Spirits | Direct | Sell | 2172026 | 153.78 | 555 | 85,345 | 402,122 | Form |
| 4 | Bourdeau, James O | EVP & Chief Legal Officer | Direct | Sell | 7222025 | 169.00 | 821 | 138,749 | 1,595,022 | Form |
| 5 | Baldwin, Christopher J | Direct | Buy | 7092025 | 169.62 | 1,000 | 169,620 | 374,521 | Form | |
| 6 | Baldwin, Christopher J | Direct | Buy | 7092025 | 171.27 | 1,000 | 171,266 | 206,889 | Form |
Investor Activity (13F)
Updated Nov 5, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Constellation Brands — Investor Video Playlist
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Distillers & Vintners Resources |
| Just Drinks |
| Wine Business Monthly |
| Beverage Dynamics |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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