|Bid||188.50 x 800|
|Ask||189.00 x 3100|
|Day's Range||189.20 - 190.38|
|52 Week Range||184.76 - 236.62|
|Beta (3Y Monthly)||-0.01|
|PE Ratio (TTM)||11.36|
|Earnings Date||Jan 9, 2019|
|Forward Dividend & Yield||2.96 (1.55%)|
|1y Target Est||246.23|
Ponying up $1.8 billion for a 45% stake in Cronos could come back to haunt the maker of Marlboro cigarettes.
The Zacks Analyst Blog Highlights: Altria, Cronos, Constellation, Canopy Growth and ETFMG Alternative Harvest
Despite broader market turmoil, the cannabis sector is starting to heat up again thanks to M&A activity. First it was Canopy Growth (NYSE:CGC), then Cronos (NASDAQ:CRON), and I think the next target is going to be Aphria (NYSE:APHA) stock. Now, everyone is again bidding up pot stocks in an attempt to find the next M&A target, which leads us to Aphria.
Constellation Brands (STZ) is a favored stock, owing to its robust surprise trend, strength in the beer business and solid business growth plans, including investment in Canopy Growth.
If there was one investment that took the financial markets by storm in 2018, it was marijuana stocks. The group, headlined by Canopy Growth (NYSE:CGC), Tilray (NASDAQ:TLRY), Aurora (NYSE:ACB), and Cronos (NASDAQ:CRON), wasn’t well known to investors at the beginning of the year. First, everyone started getting excited in 2018 about the nationwide legalization of cannabis in Canada in October.
Since Constellation first announced its $4 billion investment in Canopy Growth, shares have fallen almost 15 percent, a good entry point, Azer says. The cannabis investment is "a strategic long-term investment that should pay dividends as the Canadian adult use market sorts itself out," she added.
Altria investment in Canadian cannabis producer Cronos sparked a rally in the broad cannabis sector and the its ETF. Will the trend continue?
After several tireless days we have finished crunching the numbers from the more than 700 13F filings issued by the elite hedge funds and other investment firms that we track at Insider Monkey, which disclosed those firms’ equity portfolios as of September 30. The results of that effort will be put on display in this […]
Earlier this week, Cronos (NASDAQ:CRON) put out a press release confirming that tobacco company Altria Group (NYSE:MO) was considering an investment in the company, but that no decision was finalized. Altria announced a massive move into the tobacco space. It decided to make a C$2.4 billion ($1.8 billion) strategic investment into Cronos, confirming the earlier rumors.
The market for CBD products is about to explode, but keep in mind that not everyone will be a winner.
Canadian cannabis company Cronos Group Inc. said Friday that tobacco giant Altria Group Inc. has agreed to make a C$2.4 billion ($1.8 billion) equity investment in the company to provide the capital to help it expand and innovate. As part of the deal, Altria will receive warrants that if fully exercised would grant the company an additional C$1.4 billion. Altria will have a roughly 45% ownership stake in the company that would climb to 55% if the warrants are exercised. "This strategic partnership provides Cronos Group with additional financial resources, product development and commercialization capabilities, and deep regulatory expertise to better position the Company to compete, scale and lead the rapidly growing global cannabis industry," Cronos said in a statement. The new legal Canadian cannabis market is attracting investment from a range of players, including a $4 billion investment from Constellation Brands Inc. in Canopy Growth Corp. . Cronos will be Altria's exclusive partner in pursuing opportunities in the sector, said the statement. The deal is expected to close in the first half of 2019. Altria shares rose 1.1% premarket. Cronos shares were halted for the news, but have gained 35% in 2018, while the S&P 500 has gained 0.8%.
The corporate venture capital arm of Constellation, an international producer and marketer of alcoholic beverages such as Corona and Robert Mondavi, said Thursday it plans to invest $100 million over the next 10 years into startups founded or led by women. The New York-based company has invested in two such startups so far: a bottled cocktail company called Austin Cocktails Investments LLC and Vivify Beverages, which specializes in drinks for people with dietary restrictions like gluten. No financial terms were disclosed.
(Bloomberg) -- Constellation Brands Inc., maker of Corona beer for the U.S. and Svedka vodka, will invest $100 million in female-founded alcoholic beverage companies over the next 10 years in an effort to support women in the male-dominated liquor and beer industry.
Constellation Brands, Inc. (NYSE:STZ and STZ.B), a leading beverage alcohol company, announced today that Constellation Brands Ventures (CBV), the company’s corporate venture capital group, intends to invest $100 million in female-founded or female-led businesses in the beverage alcohol space and adjacent categories by 2028 through a new program, Focus on Female Founders. “Our Focus on Female Founders program reinforces our commitment to supporting the advancement of women within our company, within our industry, and in our local communities,” said Mallika Monteiro, chief growth officer, Constellation Brands. “This program is designed to make meaningful investments in female-founded and female-led businesses doing disruptive and innovative work across beverage alcohol.
PepsiCo (PEP) closes the acquisition of SodaStream for $3.2 billion. This should fortify PepsiCo's beverage and fast-growing water portfolio alongside adding at-home refreshment beverage offerings.
VICTOR, N.Y., Dec. 05, 2018 -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today it will report financial results for its.
Brown-Forman (BF.B) beats on second-quarter fiscal 2019 earnings while sales miss estimates. Results include impacts of tariff-related inventory reductions in the fiscal second quarter.