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Constellation Brands, Inc. Buyback

OLI recorded this information on 4/7/2022

Company: Constellation Brands, Inc.
Buyback: STZ buyback
$Amount Authorized: $500,000,000
Buyback Details: Constellation Brands, Inc. (NYSE:STZandSTZ.B), a leading beverage alcohol company, announced today that it has entered into an accelerated share repurchase ("ASR") agreement with Bank of America, N.A. to repurchase $500.0 million of its Class A common stock ("Common Stock"). Under the ASR agreement, Constellation will receive approximately 1.7 million shares on April 8, 2022, representing approximately 80% of the expected share repurchases under the ASR agreement, based on the company's April 6, 2022 closing stock price of $231.81. The repurchased shares will become treasury shares.

Constellation Brands is an international producer and marketer of beer, wine, and spirits with operations in the U.S., Mexico, New Zealand, and Italy with various brands like Corona Extra, Modelo Especial, the Robert Mondavi Brand Family, Kim Crawford, Meiomi, The Prisoner Wine Company, High West, Casa Noble, and Mi CAMPO. Co. conducts its business through entities it wholly owns as well as through a variety of joint ventures and other entities. Co.'s reportable segments include: Beer, in which it is a brewer and seller of imported beer in the U.S. market; and Wine and Spirits, in which it is a wine and spirits company in the U.S. market.

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Company Name:  Constellation Brands Inc
Stock buyback:  STZ buyback
Website:  www.cbrands.com
Sector:  Beverages & Wineries
Number of ETFs Holding STZ:  96
Total Market Value Held by ETFs:  $5.27B
Total Market Capitalization:  $49.23B
% of Market Cap. Held by ETFs:  10.71%
 

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March 29, 2024    12:37 AM Eastern
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Strong Buy (3.65 out of 4)
65th percentile
(ranked higher than approx. 65% of all stocks covered)

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