Constellation Brands, Inc. (NYSE:STZ) shares were up 0.06% on Wednesday when approximately 1.70M shares were traded, against the average daily trading volume of 2.36M. Analysts at Credit Agricole recently upgraded the stock to Underperform from Buy. Constellation Brands, Inc. (NYSE:STZ) has a consensus Strong buy rating, according to Zacks Investment Research. No analyst has rated the stock with a sell rating, 0 have assigned a hold rating, 2 says it’s a buy, and 5 have assigned a strong buy rating to the company.
Analysts have a consensus target price of $175.13 in the 12-month period. The price objective is 16.87% higher than the recent closing price of $149.85. The 52-week price range is $129.26-$173.12 and the company has a market capitalization of $29.44 billion.
Constellation Brands, Inc. (STZ) on January 26, 2017 announced that Bill Newlands has been named executive vice president, chief operating officer, a new position within the company. A 30-year industry veteran, Newlands joined Constellation in 2015 as executive vice president and chief growth officer and currently serves as president of the Wine & Spirits Division. This change enables the company to continue to build bench strength for critical leadership roles in the future.
In his new role, Newlands will oversee the Beer Division, Wine & Spirits Division and Growth organization. He will report directly to Rob Sands, president and chief executive officer. Newlands will focus on advancing strategic growth opportunities across the company to fully leverage Constellation`s position as a leading total beverage alcohol company.
“Bill simply is one of the `best of the best` in the industry,” said Sands. “He is a dynamic leader with a unique capacity to translate vision into reality. He has ignited our approach to company-wide innovation and driven growth within our Wine & Spirits Division. The creation of the COO role will allow Bill to bring that talent to the entire organization and continue to fuel our momentum,” Sands added.
With Newlands` transition to chief operating officer, the company is announcing additional leadership changes.
“As an organization, we continue to evolve and change because we are relentless in driving forward and these appointments position the next generation of leadership to build on our dynamic growth,” said Sands.
Chris Stenzel has been promoted to executive vice president, president, Wine & Spirits Division. Stenzel has over 18 years of beverage alcohol experience, joining Constellation Brands in 2008. Since that time, he has held a number of senior roles including leading our Wine & Spirits finance division and most recently as senior vice president finance for the Beer Division. Stenzel is a trusted strategic counselor to leadership across the organization bringing deep commercial and operational knowledge and experience to his new role. Stenzel and Paul Hetterich, president of the Beer Division, will both report to Bill Newlands.ima