Short interest for Constellation Brands gives investors a sense of the degree to which investors are betting on the decline of Constellation Brands's stock. Short interest data is updated every two weeks.

Constellation Brands Stock (NYSE:STZ), Short Interest Report

Constellation Brands

Constellation Brands is the largest provider of alcoholic beverages across the beer, wine, and spirits categories in the U.S., generating 80% of revenue from Mexican beer imports under top-selling brands such as Modelo and Corona. The rest of the business includes some remaining wine and spirits brands, categories where the company continue to prune assets in recent years. With its exclusive rights tied to the Mexican beer brands effective only in the U.S., the firm has small revenue exposure to international markets. Constellation owns a 36% stake in no-moat Canopy Growth, a medicinal and recreational cannabis producer in Canada, and has a 50/50 joint venture with glass manufacturer Owens-Illinois in Mexico.

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WEED

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) said that in connection with the creation of the company&#39;s non-voting and non-participating exchangeable shares, on Thursday, April 18, Greenstar Canada Investment Limited Partnership and CBG Holdings LLC, each a wholly-owned subsidiary of Constellation Brands Inc (NYSE: STZ) exchanged all 17,149,925 common shares in the capital of the company they collectively held for 17,149,925 exchangeable shares for no consideration. The CBG Group no longer holds any common shares of Canopy, as a result, the company said on Thursday. In connection with the termination of the investor rights agreement between CBG, Greenstar and Canopy Growth, the parties entered earlier and following the note exchange, Garth Hankinson, Judy Schmeling and James Sabia each provided notice to the company of his or her decision to resign from the board.

Canopy Growth&#39;s Big Step Toward Entry Into US Cannabis Market As DEA Rescheduling Looms

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General

Constellation Brands gets a Buy rating upgrade from Argus Research analyst John Staszak, with a bullish price target of $306. Fiscal Q4 2024 saw a 7% rise in comparable sales to $2.14 billion, surpassing estimates. Beer revenue surged by approximately 11%, boosting overall sales, leading to an optimistic EPS outlook for FY25 and FY26.

Cheers to Growth: Constellation Brands Gets Upgrade, Analyst Bullish on Beer Sales

Markets

Despite a decline in the wine and spirits business, Constellation Brands (NYSE: STZ) outperformed its expectations with beer sales with its latest quarterly report.

Constellation Brands&#39; Continued Beer Strength Offsets Its Wine And Spirits Weakness

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Canopy Growth Corporation (TSX:<a class="ticker" href="https://www.benzinga.com/stock/WEED#TSX">WEED</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CGC#NASDAQ">CGC</a>) said on Thursday, April 18 that in connection with the creation of the company's non-voting and non-participating exchangeable shares, Greenstar Canada Investment Limited Partnership and CBG Holdings LLC, each a wholly-owned subsidiary of Constellation Brands Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) exchanged all 17,149,925 common shares in the capital of the company they collectively held for 17,149,925 exchangeable shares for no consideration.
The CBG Group no longer holds any common shares of Canopy, as a result, the company said on Thursday.
Each exchangeable share is convertible, at the option of the holder, into one common share. The exchangeable shares are not traded on a public market and represent an interest in Canopy Growth directly, not Canopy USA, LLC.
Canopy Growth's shareholders approved the creation of a new class of exchangeable shares of the <a href="https://www.benzinga.com/markets/cannabis/24/04/38251768/canopy-is-cautiously-optimistic-on-cannabis-rescheduling-following-major-step-toward-entry-into-">company during their special meeting on Friday, April 12.</a>
<h3 class="wp-block-heading" id="h-why-it-matters">Why It Matters</h3>
The move enables the acceleration of Canopy Growth's <a href="https://www.benzinga.com/markets/cannabis/22/10/29396521/canopys-shares-slightly-up-on-plans-to-conquer-us-cannabis-market">entry into the U.S. THC market,</a> which is forecasted to reach roughly $50 billion in 2026, the company said on Monday in a press release.
David Klein, Canopy Growth's CEO <a href="https://www.benzinga.com/markets/cannabis/24/04/38297096/canopy-growth-ceo-at-benzinga-conference-i-dont-think-our-investors-understand-the-value-that-si">who spoke <a href="https://www.benzinga.com/markets/cannabis/24/04/38297096/canopy-growth-ceo-at-benzinga-conference-i-dont-think-our-investors-understand-the-value-that-si">this week</a> at the Benzinga Cannabis Capital Conference</a> in Florida, praised the move.
&#8220;This is another important step forward for the Canopy USA strategy following the recent and overwhelming approval of our shareholders to create this exchangeable class of shares,&#8221; Klein said. &#8220;We look forward to maintaining an enduring positive relationship with CBI as our largest shareholder, and to the further advancement of the Canopy USA strategy that this change enables as Canopy USA moves forward with the acquisitions of Wana, Jetty and Acreage.&#8221;
Additionally, Canopy Growth simultaneously entered into an exchange agreement with Greenstar, under which Greenstar converted roughly CA$81.2 million ($59 million) of the principal amount of the CA$100 million principal amount promissory note issued to Greenstar by Canopy Growth on April 14, 2023, into 9,111,549 exchangeable shares.
As a result of both transactions, CBG and Greenstar now hold an aggregate of 26,261,474 exchangeable shares.
<h3 class="wp-block-heading" id="h-dea-rescheduling-looms">DEA Rescheduling Looms</h3>
The move comes ahead of the anticipated reclassification of cannabis from a Schedule I substance to Schedule III following the <a href="https://www.benzinga.com/markets/cannabis/23/08/34120876/health-officials-to-dea-ease-federal-restrictions-on-cannabis-will-this-set-stage-for-legalizati" target="_blank" rel="noreferrer noopener">August recommendation</a> from the Dept. of Health and Human Services to the DEA to ease federal restrictions on cannabis. 
The policy change could pave the way for U.S. exchange listings, signaling a major shift in the<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/33482521/curaleaf-and-trulieve-lead-the-pack-in-tax-payments-a-look-at-16-cannabis-msos-liab" target="_blank" rel="noreferrer noopener"> industry&#8217;s financial </a>and <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/08/34153665/cannabis-tax-changes-could-trigger-504-cash-flow-leap-which-industry-players-will-b" target="_blank" rel="noreferrer noopener">regulatory framework</a>. 
"Buoyed by recent comments from the President and the Vice-President, Canopy Growth continues to be cautiously optimistic that cannabis will be moved to Schedule III in the near term,&#8221; Klein <a href="https://www.benzinga.com/markets/cannabis/24/04/38251185/whats-going-on-with-canopy-growth-stock">said earlier this month</a>. &#8220;Following this, we expect an immediate enhancement to the cashflow of Wana, Jetty, and Acreage resulting from the removal of the prohibition on business deductions in Section 280 which we expect to help power their growth." 
Now read: <a href="https://www.benzinga.com/markets/cannabis/24/04/38326864/dea-public-comment-period-and-a-cannabis-related-crypto-bill-you-heard-it-first-at-benzinga-conf">DEA Public Comment Period And A Cannabis-Related Crypto Bill? You Heard It First At Benzinga Conference</a>
<h3 class="wp-block-heading" id="h-cgc-price-action">CGC Price Action</h3>
Canopy Growth&#8217;s shares traded 3.45% higher at $8.10 per share at the time of this publishing early Thursday afternoon.

Canopy Growth's Big Step Toward Entry Into US Cannabis Market As DEA Rescheduling Looms

Argus Research&nbsp;analyst John Staszak upgraded the shares of&nbsp;Constellation Brands Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) from Hold to Buy with a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/STZ/analyst-ratings" rel="noreferrer noopener">price target of $306.</a>
In fiscal 4Q24 ended February 30, 2024, Constellation's comparable sales rose 7% to $2.14 billion and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38202038/constellation-brands-q4-earnings-beat-estimates-as-beer-sales-soar" rel="noreferrer noopener">topped the consensus estimate of $2.10 billion.</a>
The higher sales reflected an approximately 11% increase in beer revenue to more than $1.70 billion, said the analyst.
The analyst raised the FY25 EPS estimate to $14.20 from $13.90 and set an FY26 estimate of $15.30 per share following the company's upbeat FY25 EPS outlook of $13.50-$13.80.
The analyst rated the financial strength of Constellation as Medium, the midpoint on a five-point scale.&nbsp;
At the end of 4Q24, cash and cash equivalents totaled $152 million, up from $134 million at the end of 4Q23.
On April 6, 2023, the company announced an 11% increase in its quarterly dividend to $0.89 per share, or $3.56 annually.
The analyst estimates a dividend of $3.96 for FY25 and $4.20 for FY26.
Investors in STZ shares face numerous risks, ranging from the concentrated ownership of the Sands family to the company's relatively high debt, noted the analyst.
Also, according to the analyst, the company faces fierce competition and, like other producers of alcoholic beverages, is subject to significant regulation.
STZ is trading at 18.6-times the analyst's revised FY25 EPS estimate, below the average multiple of 21.0 for other growing Consumer Staples companies.
However, the analyst believes that the current multiple inadequately reflects the company's prospects for strong beer sales, dividend hikes and efforts to reduce costs.
Price Action: STZ shares are trading lower by 0.83% at $260.06 on the last check Monday.
Photo: Anrita from Pixabay

Despite&nbsp;a decline in the&nbsp;wine and spirits business,&nbsp;Constellation Brands (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>) outperformed its expectations with&nbsp;beer sales&nbsp;with its latest quarterly report. Constellation Brands, whose operations span across&nbsp;the U.S., Mexico, New Zealand, and Italy,&nbsp;delivered a stronger than expected fourth quarter profit, with management indicating that the segment greatly contributed to its success over the fiscal year.&nbsp;
<h3>Fourth Quarter Highlights</h3>
For the quarter that ended in February, Constellation Brands posted&nbsp;revenue of $2.3 billion, surpassing Wall Street estimates of&nbsp;$2.1 billion. It reported&nbsp;earnings per share&nbsp;of&nbsp;$2.26, also surpassing analyst estimates of about&nbsp;$2.10.
The&nbsp;beer business continued its strong growth momentum&nbsp;with&nbsp;its 56th consecutive quarter of volume growth.&nbsp;CEO Bill Newlands&nbsp;also added the company&nbsp;achieved a significant milestone this year, as Modelo Especial became the number one beer in U.S. dollar sales.&nbsp;Beer sales through retailers&nbsp;alone expanded&nbsp;8.9%,&nbsp;compared with 6%&nbsp;achieved during last year&rsquo;s comparable quarter.&nbsp;
On the other hand,&nbsp;challenging marketplace dynamics&nbsp;continued to&nbsp;pressure sales volumes&nbsp;of its&nbsp;wine and spirits category&nbsp;with sales&nbsp;falling&nbsp;flat.
<h3>Full Year Results</h3>
Net sales&nbsp;rose 5% YoY to&nbsp;$9.962 million&nbsp;while&nbsp;net income rose 12% due to&nbsp;price rises and operating efficiencies.
A lifted adjusted fiscal 2025 outlook
Fueled by the strength of its beer business, Anheuser Busch InBev SA (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bud#NYSE">BUD</a>) rival lifted its&nbsp;full-year earnings&nbsp;and sales forecasts. Constellation Brands guided for earnings in the range between&nbsp;$13.50&nbsp;and&nbsp;$13.80 eper shareand&nbsp;sales&nbsp;growth&nbsp;between 6% and 7%.&nbsp;Constellation expects its&nbsp;beer sales&nbsp;to rise by&nbsp;a further 10% in the&nbsp;undergoing&nbsp;financial year&nbsp;both due to its&nbsp;brand strength&nbsp;as well as the&nbsp;US consumer&rsquo;s shift away&nbsp;from wines and spirits&nbsp;in favor of&nbsp;beer.
The anual results of&nbsp;Anheuser Busch reflected a new beer trend of&nbsp;health-conscious consumers.
Interestingly,&nbsp;Anheuser Busch reported its beer sales dropped in North America last year while its non-alcoholic beer sales topped estimates, reflecting the consumer behaviour of&nbsp;more health-conscious consumers. Anheuser Busch responded to the trend with the expansion of beverage choices. With its no-alcohol beer portfolio that includes Budweiser Zero, Stella Artois 0.0 and others, Anheuser Busch reported revenue growth in the high teens, according the annual report. Global Market Insights estimated that between 2023 and 2032,&nbsp;the nonalcoholic wine and beer market&nbsp;will&nbsp;continue&nbsp;growing&nbsp;at an annual rate of&nbsp;7%&nbsp;and&nbsp;surpass $30 billion by 2025. With&nbsp;Sam Glaetze&nbsp;and his experience that spans over three decades becoming the new leader of the segment,Newlands&nbsp;is confident that the wine and spirits division will improve. On the back of the continued resilience of its&nbsp;core beer brands,&nbsp;Constellation confidently&nbsp;lifted its full year guidance.&nbsp;
DISCLAIMER: This content is for informational purposes only. It is not intended as investing advice.
This article is from an unpaid external contributor. It does not represent Benzinga&#39;s reporting and has not been edited for content or accuracy.

Constellation Brands' Continued Beer Strength Offsets Its Wine And Spirits Weakness

U.S. stocks closed lower on Friday, with the Dow Jones index falling around 475 points during the session.
Wall Street analysts make new stock picks on a daily basis. Unfortunately for investors, not all analysts have particularly impressive track records at predicting market movements. Even when it comes to one single stock, analyst ratings and price targets can vary widely, leaving investors confused about which analyst&#39;s opinion to <a href="https://www.benzinga.com/money/setting-up-a-trust/">trust</a>.
Benzinga&#39;s Analyst Ratings API is a collection of the highest-quality stock ratings curated by the Benzinga news desk via direct partnerships with major sell-side banks. Benzinga displays overnight ratings changes on a daily basis three hours prior to the U.S. equity market opening. Data specialists at investment dashboard provider Toggle.ai recently uncovered that the analyst insights Benzinga Pro subscribers and Benzinga readers regularly receive can successfully be used as trading indicators to outperform the stock market.
Top Analyst Picks: Fortunately, any Benzinga reader can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie"> Analyst Stock Ratings </a> page. One of the ways traders can sort through Benzinga&#39;s extensive database of analyst ratings is by analyst accuracy. Here&#39;s a look at the most recent stock picks from each of the five most accurate Wall Street analysts, according to Benzinga <a href="https://www.benzinga.com/analyst-stock-ratings"> Analyst Stock </a> Ratings.
Analyst: Jay McCanless
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 88%</li>
<li>Latest Rating: Downgraded rating on Arbor Realty Trust, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/abr#NYSE">ABR</a>) from Outperform to Neutral and cut the price target from $17 to $13 on April 11, 2024. This analyst sees around 6% increase in the stock.</li>
<li>Recent News: On Feb. 16, Arbor Realty Trust shares reported better-than-expected fourth-quarter financial results.</li>
</ul>
Analyst: Matt Bryson
<ul>
<li>Analyst Firm: Wedbush</li>
<li>Ratings Accuracy: 87%</li>
<li>Latest Rating: Reiterated an Outperform rating on Silicon Motion Technology Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/simo#NASDAQ">SIMO</a>) with a price target of $85 on April 10, 2024. This analyst sees around 13% upside in the stock.</li>
<li>Recent News: The company is scheduled to release its first quarter 2024 financial results after the closing bell on May 2, 2024.</li>
</ul>
Analyst: Aaron Rakers
<ul>
<li>Analyst Firm: Wells Fargo</li>
<li>Ratings Accuracy: 86%</li>
<li>Latest Rating: Maintained an Overweight rating on Western Digital Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wdc#NASDAQ">WDC</a>) and boosted the price target from $72 to $95 on April 10, 2024. This analyst sees around 32% upside in the stock.</li>
<li>Recent News: Western Digital is expected to announce its third quarter fiscal year 2024 financial results after the closing bell on April 25, 2024.</li>
</ul>
Analyst: David Manthey
<ul>
<li>Analyst Firm: Baird</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Maintained a Neutral rating on Fastenal Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fast#NASDAQ">FAST</a>) and cut the price target from $77 to $71 on April 12, 2024. This analyst sees around 1% surge in the stock.</li>
<li>Recent News: On April 11, Fastenal posted worse-than-expected first-quarter financial results.</li>
</ul>
Analyst: Andrew Strelzik
<ul>
<li>Analyst Firm: BMO Capital</li>
<li>Ratings Accuracy: 85%</li>
<li>Latest Rating: Maintained an Outperform rating on Constellation Brands, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>) and boosted the price target from $290 to $315 on April 12, 2024. This analyst sees more than 20% upside in the stock.</li>
<li>Recent News: On April 11, Constellation Brands reported better-than-expected fourth-quarter financial results.</li>
</ul>
&nbsp;
Read More: <a href="https://www.benzinga.com/news/earnings/24/04/38215878/how-to-earn-500-a-month-from-goldman-sachs-stock-ahead-of-q1-earnings-report"> How To Earn $500 A Month From Goldman Sachs Stock Ahead Of Q1 Earnings Report </a>

Pre-Market Outlook

FAST

SIMO

This Analyst With 86% Accuracy Rate Sees Around 32% Upside In Western Digital - Here Are 5 Stock Picks For Last Week From Wall Street's Most Accurate Analysts

Barclays analyst Lauren Lieberman maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Overweight and raises the price target from $294 to $295.

Barclays Maintains Overweight on Constellation Brands, Raises Price Target to $295

Argus Research analyst John Staszak upgrades Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) from Hold to Buy and announces $306 price target.

Argus Research Upgrades Constellation Brands to Buy, Announces $306 Price Target

Evercore ISI Group analyst Robert Ottenstein maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Outperform and raises the price target from $300 to $310.

Evercore ISI Group Maintains Outperform on Constellation Brands, Raises Price Target to $310

RBC Capital analyst Nik Modi maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Outperform and raises the price target from $295 to $308.

RBC Capital Maintains Outperform on Constellation Brands, Raises Price Target to $308

Roth MKM analyst Bill Kirk reiterates Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Buy and maintains $305 price target.

Reiteration

Roth MKM Reiterates Buy on Constellation Brands, Maintains $305 Price Target

Jefferies analyst Kaumil Gajrawala maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Buy and raises the price target from $292 to $314.

Jefferies Maintains Buy on Constellation Brands, Raises Price Target to $314

Constellation Brands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>) reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/04/38202038/constellation-brands-q4-earnings-beat-estimates-as-beer-sales-soar">fourth-quarter financial results on Thursday</a>.
Constellation Brands reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion, beating the analyst consensus estimate of $2.10 billion. Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26 beat the consensus estimate of $2.09, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
&ldquo;We also generated strong operating cash flow, which enabled continued execution of our capital allocation priorities including: reducing our net leverage ratio from 3.6x to 3.2x, returning over $900 million to shareholders in dividends and share repurchases, and deploying approximately $900 million to modular brewery capacity additions to support the growth of our Beer Business,&rdquo; said CFO Garth Hankinson.
Constellation Brands said it sees FY25 net sales growth of 6% &ndash; 7%. It expects Comparable EPS of $13.50 &ndash; $13.80 against an estimate of $13.44. The company sees an operating income growth of 10% &ndash; 12% and capital expenditures of $1.4 billion &ndash; $1.5 billion.
Constellation shares gained 0.3% to trade at $269.08 on Friday.
These analysts made changes to their price targets on Constellation following earnings announcement.
<ul>
<li>BMO Capital raised the price target on Constellation from $290 to $315. BMO Capital analyst Andrew Strelzik maintained an Outperform rating.</li>
<li>UBS boosted the price target on Constellation from $312 to $320. UBS analyst Peter Grom maintained a Buy rating.</li>
<li>HSBC boosted the price target on Constellation from $290 to $300. HSBC analyst Sorabh Daga maintained a Buy rating.</li>
</ul>
&nbsp;
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Earnings

These Analysts Boost Their Forecasts On Constellation Brands Following Upbeat Results

HSBC analyst Sorabh Daga maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Buy and raises the price target from $290 to $300.

HSBC Maintains Buy on Constellation Brands, Raises Price Target to $300

UBS analyst Peter Grom maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Buy and raises the price target from $312 to $320.

UBS Maintains Buy on Constellation Brands, Raises Price Target to $320

BMO Capital analyst Andrew Strelzik maintains Constellation Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) with a Outperform and raises the price target from $290 to $315.

BMO Capital Maintains Outperform on Constellation Brands, Raises Price Target to $315

The CNN Money Fear and Greed index showed an improvement in the overall market sentiment, with the index moving&nbsp;to the &quot;Greed&quot; zone on Thursday.
U.S. stocks closed mostly higher on Thursday, with the Nasdaq Composite settling at a record level during the session.
On the economic data front, producer prices in the U.S. rose 0.2% month-over-month in March compared to a 0.6% gain in February. However, analysts were expecting a gain of 0.3%. U.S. initial jobless claims declined by 11,000 to 211,000 in the week ending April 6, compared to market estimates of 215,000.
Constellation Brands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>) reported better-than-expected fourth-quarter earnings on Thursday. Rent the Runway, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rent#NASDAQ">RENT</a>) shares jumped around 162% on Thursday after the company reported mixed fourth-quarter financial results and issued guidance.
Major sectors on the S&amp;P 500 closed on a mixed note, with information technology, communication services and consumer discretionary stocks recording the biggest gains on Thursday. However, financial and health care stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed lower by around 2 points to 38,459.08 on Thursday. The S&amp;P 500 gained 0.74% at 5,199.06, while the Nasdaq Composite jumped 1.68% at 16,442.20 during Thursday&rsquo;s session.
Investors are awaiting earnings results from Citigroup Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>), Wells Fargo &amp; Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wfc#NYSE">WFC</a>) and JPMorgan Chase &amp; Co. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) today.
At a current reading of 58.5, the index moved to the &quot;Greed&quot; zone on Thursday, versus a prior reading of 52.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
&nbsp;
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RENT

Fear & Greed Index Moves To 'Greed' Zone Following PPI Data; Nasdaq record Sharp Gains

U.S. stocks traded higher toward the end of trading, with the Nasdaq Composite surging more than 250 points on Thursday.
The Dow traded up 0.18% to 38,532.50 while the NASDAQ rose 1.63% to 16,433.83. The S&amp;P 500 also rose, gaining, 0.83% to 5,203.26.
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&nbsp;
<h3>Leading and Lagging Sectors</h3>
&nbsp;
Information technology shares rose by 2.2% on Thursday.
In trading on Thursday, energy shares fell by 0.3%.
&nbsp;
<h3>Top Headline</h3>
&nbsp;
Constellation Brands Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stz#NYSE">STZ</a>) reported better-than-expected fourth-quarter earnings.
Constellation Brands reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion, beating the analyst consensus estimate of $2.10 billion. Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26 beat the consensus estimate of $2.09.
&nbsp;
<h3>Equities Trading UP</h3>
&nbsp;
Rallybio Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rlyb#NASDAQ">RLYB</a>) shares shot up 87% to $3.0419 after the company announced a collaboration with Johnson &amp; Johnson to advance therapeutics for pregnant individuals at risk of FNAIT.
Shares of Eliem Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/elym#NASDAQ">ELYM</a>) got a boost, surging 58% to $4.2153. The company announced that it entered into a definitive acquisition agreement to acquire Tenet and it also entered into a securities purchase agreement for a $120 million private placement.
Rent the Runway, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rent#NASDAQ">RENT</a>) shares were also up, gaining 128% to $16.88 after the company reported mixed fourth-quarter financial results and issued guidance.
&nbsp;
<h3>Equities Trading DOWN</h3>
&nbsp;
Aptevo Therapeutics Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apvo#NASDAQ">APVO</a>) shares dropped 59% to $0.9870 after the company priced its $4.6 million public offering.
Shares of Enlivex Therapeutics Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/enlv#NASDAQ">ENLV</a>) were down 54% to $1.83. The company announced topline results of its Phase II trial evaluating Allocetra in sepsis.
AVITA Medical, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rcel#NASDAQ">RCEL</a>) was down, falling 29% to $10.20 after the company announced an update to its expected commercial revenue for the first quarter of 2024. BTIG downgraded the stock from Buy to Neutral.
Also Check This Out:<a href="https://www.benzinga.com/news/24/04/38198816/top-3-financial-stocks-that-are-ticking-portfolio-bombs"> Top 3 Financial Stocks That Are Ticking Portfolio Bombs</a>
&nbsp;
<h3>Commodities</h3>
&nbsp;
In commodity news, oil traded down 1.1% to $85.29 while gold traded up 1.3% at $2,379.80.
Silver traded up 1.4% to $28.430 on Thursday, while copper fell 0.5% to $4.2605.
&nbsp;
<h3>Euro zone</h3>
&nbsp;
European shares were lower today. The eurozone&rsquo;s STOXX 600 fell 0.40%, London&rsquo;s FTSE 100 fell 0.47% while Spain&rsquo;s IBEX 35 Index fell 1.16% The German DAX fell 0.79% French CAC 40 fell 0.27% while Italy&rsquo;s FTSE MIB Index fell 0.96%.
The European Central Bank kept interest rates unchanged for a fifth straight time during its April meeting.
&nbsp;
<h3>Asia Pacific Markets</h3>
&nbsp;
Asian markets closed mixed on Thursday, with Japan&rsquo;s Nikkei 225 falling 0.35%, Hong Kong&rsquo;s Hang Seng Index dropping 0.26%, China&rsquo;s Shanghai Composite gaining 0.23% and India&rsquo;s S&amp;P BSE Sensex gaining 0.47%.
China&#39;s consumer prices rose 0.1% year-over-year in March, while producer prices fell by 2.8% year-over-year in March.
&nbsp;
<h3>Economics</h3>
&nbsp;
Producer prices in the U.S. rose 0.2% month-over-month in March compared to a 0.6% gain in February. However, analysts were expecting a gain of 0.3%.
U.S. initial jobless claims declined by 11,000 to 211,000 in the week ending April 6, compared to market estimates of 215,000.
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/04/38198109/citigroup-likely-to-report-lower-q1-earnings-here-are-the-recent-forecast-changes-from-wall-streets"> Citigroup Likely To Report Lower Q1 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts</a>

Penny Stocks

Eurozone

Commodities

Small Cap

Global

Intraday Update

APVO

ELYM

ENLV

RCEL

RLYB

Nasdaq Jumps 250 Points; Crude Oil Down 1%

Constellation Brands Inc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) reported fourth-quarter FY24 sales growth of 7.1% year-on-year to $2.14 billion,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/g38199280/constellation-brands-reports-fiscal-year-and-fourth-quarter-2024-financial-results-and-fiscal-year" rel="noreferrer noopener">beating the analyst consensus estimate of $2.10 billion</a>.
Net sales for the Beer segment increased 11% Y/Y to $1.702 billion, and Wine and Spirits declined 6% Y/Y to $436.4 million. Shipment volume for Beer climbed 10.5%, while Wine and Spirits declined 5%.
Gross profit increased 8.1% to $1.03 billion, and the operating income jumped 35% to $629.4 million. The operating margin for the quarter was 29.4%.
Comparable EPS, excluding Canopy EIE, was $2.30. Comparable EPS of $2.26&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beat the consensus estimate of $2.09.</a>
The company generated an operating cash flow of $2.8 billion for the twelve months and a free cash flow of $1.5 billion.
Constellation Brands ended the quarter with $152.4 million in cash and equivalents as of February 29, 2024.
Constellation&#8217;s board declared a quarterly cash dividend of $1.01 per share, an increase of 13%, payable on May 17, 2024, to stockholders of record on May 3, 2024.
&#8220;We also generated strong operating cash flow, which enabled continued execution of our capital allocation priorities including: reducing our net leverage ratio from 3.6x to 3.2x, returning over $900 million to shareholders in dividends and share repurchases, and deploying approximately $900 million to modular brewery capacity additions to support the growth of our Beer Business,&#8221; said CFO Garth Hankinson.
Guidance: Constellation Brands sees FY25 net sales growth of 6% &#8211; 7%. It expects Comparable EPS of $13.50 &#8211; $13.80 against an estimate of $13.44.
The company sees an operating income growth of 10% &#8211; 12% and capital expenditures of $1.4 billion &#8211; $1.5 billion.&nbsp;
Constellation Brands sees an operating cash flow of $2.8 billion &#8211; $3 billion and a free cash flow of $1.4 billion &#8211; $1.5 billion.
Price Action: STZ shares are trading higher by 0.73% at $266.85 in premarket on the last check Thursday.
Photo: Anrita from Pixabay

Guidance

Dividends

Constellation Brands Q4 Earnings Beat Estimates As Beer Sales Soar

WIIM

Constellation Brands shares are trading higher after the company reported better-than-expected Q4 financial results and issued FY25 adjusted EPS guidance above estimates.

Constellation Brands Sees FY25 Adj EPS Of $13.50 - $13.80 Vs. $13.44 Est.

Constellation Brands Sees FY25 Net Sales Growth Of 6% - 7%

Madison Covered Call And Equity Income Fund Q1 2024 Investment Strategy Letter

Constellation Brands (STZ) has disclosed a new risk, in the Employment / Personnel category. Constellation Brands faces a significant business risk...

Strike Alert: How Labor Unrest Could Shake Up Constellation Brands' Operations and Finances

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Constellation is converting its stake in Canopy to shares that don't give it voting power, withdrawing its representation on Canopy's board and has advised that they do not intend to deploy additional investment in Canopy going forward.

April Recap: Conservative "Cannabis" Stocks Portfolio Down 3%

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Inflation &ndash; the rate at which prices increase, continues to be persistently strong. Thus, markets have started pricing in higher for longer rates. This means pressure on long-dated assets like <a href="https://investorplace.com/stock-types/growth-stocks/">growth stocks</a>, which paves the way to play defense with <a href="https://investorplace.com/industries/consumer-staples/">consumer staples stocks</a>.



Once again, <a href="https://www.reuters.com/markets/us/us-consumer-prices-rise-more-than-expected-march-2024-04-10/">March CPI was hotter than expected</a>, putting to bed the theory that January and February&rsquo;s strength was due to seasonal factors. Even Federal Reserve Chairman Powell recently stated there was a lack of progress toward the 2% target. As a result, rates have rallied year-to-date. Meanwhile, investors have dialed back rate cut expectations with Fed Fund Futures pricing in fewer rate cuts this year.



Higher rates will pressure growth sectors, especially unprofitable technology and <a href="https://investorplace.com/industries/healthcare/biotech/">biotech stocks</a>. Instead, assets generating cash flow today, like consumer staples stocks, will do well. And if anything, these stocks didn&rsquo;t participate in last year&rsquo;s rally and are cheaper than the S&amp;P 500.



<h2>Constellation Brands (STZ)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2022/05/stz-1600-300x169.jpg" alt="Constellation Brands logo on a phone screen in front of a blue and purple background. STZ stock."><div>Source: IgorGolovniov / Shutterstock</div></div>This alcoholic beverage company is the perfect way to play offense and defense. Its main product, beer, which accounts for over 80% of sales, is recession-resistant, meaning sales will do well in all economic conditions. Plus, the stock is showing earnings growth and has a reasonable valuation.



Constellation Brands (NYSE:<a href="https://investorplace.com/stock-quotes/stz-stock-quote/">STZ</a>) benefited tremendously from the Bud Light scandal last year. As Bud Light sales tanked, its brand Modelo saw significant sales increases in the U.S. <a href="https://www.cnbc.com/2023/08/18/how-modelo-dethroned-bud-light-to-become-the-top-selling-us-beer.html">Modelo Especial leapfrogged Bud Light</a> to become the top-selling beer in the U.S. in May 2023.



Due to the strong momentum, fiscal year 2024 net sales grew 5% to $9.96 billion. The beverage company also demonstrated operating leverage, delivering operating margins of about 33%. As a result, operating income was $3.17 billion, growing 11%.



According to Circana, Constellation Brands was the <a href="https://www.circana.com/intelligence/press-releases/2024/circana-announces-its-2023-us-cpg-growth-leaders/">2023 growth leader</a> among $8 billion-plus consumer packaged goods companies. Moreover, management expects the growth momentum to continue in FY2025, projecting net sales growth of 6% to 7%. The beer business will grow even faster, at 7% to 9%.



Putting it all together, the impressive growth and reasonable valuation make Constellation Brands one of the top consumer staples stocks to buy. Management expects EPS of $13.40 &ndash; $13.70 in FY2025. Thus, you can buy the stock at 19 times forward earnings.



<h2>Sysco (SYY)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/SYY1600-300x169.jpg" alt="Best Stocks for Students: Sysco (SYY)"><div>Source: Shutterstock</div></div>Although it&rsquo;s an obscure company, Sysco (NYSE:<a href="https://investorplace.com/stock-quotes/syy-stock-quote/">SYY</a>) is integral to daily life. It&rsquo;s the largest food distributor in the U.S., delivering food and related supplies to hotels, schools, restaurants and hospitals. This boring business generates steady profits, making it one of the best consumer staples stocks.



Despite being a boring business, it has grown revenues at a steady rate. Although there was a slight slowdown during the pandemic, sales grew from $58.7 billion in FY2018 to $76.3 billion in FY2023. Post-pandemic revenue growth has reaccelerated, delivering a 19% compounded annual growth rate over the past 3 years.



As mentioned above, Sysco is an extremely profitable business. The revenue growth has translated into even faster profit growth. Over the past three years, earnings before interest and taxes grew at a 41% CAGR.



Looking ahead, management expects modest growth, projecting mid-single-digit revenue growth for the fiscal year ending July 2024. Moreover, from Sysco&rsquo;s robust free cash flow generation, they have committed to maintaining its <a href="https://www.suredividend.com/dividend-aristocrats-syy/">Dividend Aristocrat status</a> and buying back stock.



During Q2 FY2024, it paid $252.7 million in dividends. Additionally, it expects to return $2.25 billion to shareholders in FY2024 via buybacks. In terms of growth, Sysco is a leader in the highly fragmented food service distribution industry and will continue to grow.



<h2>Unilever (UL)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2021/09/ul-unilever-1600-300x169.jpg" alt="The blue Unilever sign next to the desk inside de head office in Rotterdam, the Netherlands."><div>Source: BYonkruud / Shutterstock.com</div></div>Unilever (NYSE:<a href="https://investorplace.com/stock-quotes/ul-stock-quote/">UL</a>) is one of the largest <a href="https://www.statista.com/statistics/260963/leading-fmcg-companies-worldwide-based-on-sales/#:~:text=Some%20of%20the%20leading%20key,regarding%20product%20packaging%20and%20labeling.">fast-moving consumer goods companies</a> by sales. As of this writing, it has 14 brands with sales exceeding $1 billion, highlighting its brands strength. With power brands such as Dove, Rexona, Lux and Omo, this is one of the best consumer staples stocks.



Unilever sells necessities in personal care, beauty and wellbeing, home care and nutrition, which are part of everyday life. Therefore, it offers steady earnings growth and great returns to shareholders.



Even better, if you buy UL stock today, you could benefit from the ongoing restructuring. Historically, Unilever has earned lower margins than peer Procter &amp; Gamble (NYSE:<a href="https://investorplace.com/stock-quotes/pg-stock-quote/">PG</a>). To improve the business, activists led by Trian&rsquo;s Nelson Peltz are <a href="https://www.reuters.com/business/retail-consumer/unilever-ceo-pursuing-strategic-shift-with-peltzs-backing-2024-02-12/">working with management</a> to implement strategic changes.



In the planned changes, management has decided to prioritize 30 power brands that account for 75% of turnover, dispose of non-core businesses and cut costs. According to <a href="https://www.reuters.com/markets/deals/unilever-spin-off-ben-jerrys-unit-launches-cost-savings-plan-2024-03-19/">Reuters</a>, it plans to spin off its ice cream unit and slash 7,500 jobs.



As of this writing, Unilever&rsquo;s EBITDA margins are 18% compared to Proctor &amp; Gamble&rsquo;s 28%. With the strategic improvements, profitability could improve significantly. Indeed, at 18 times forward earnings, this is one of the cheapest consumer staples stocks due to the potential profitability improvements.



On the date of publication, Charles Munyi did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines.</a>












<div>Charles Munyi has extensive writing experience in various industries, including personal finance, insurance, technology, wealth management and stock investing. He has written for a wide variety of financial websites including Benzinga, The Balance and Investopedia.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-consumer-staples-stocks-providing-stability-in-uncertain-times/">3 Consumer Staples Stocks Providing Stability in Uncertain Times</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

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Constellation Brands Stock (NYSE:STZ), Short Interest Report

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