RBC Capital Reiterates Outperform Rating on Constellation Brands (STZ)
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Constellation Brands Announces Accelerated Stock Buyback
June 30, 2021 8:50 AM EDTVICTOR, N.Y., June 30, 2021 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has entered into an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC 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 July 2, 2021, representing approximately 80% of the expected share repurchases under the ASR agreement, based on the companys June 29, 2021 closing stock price of $230.98. The repurchased shares will become treasury shares.
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Constellation Brands Reports First Quarter Fiscal 2022 Results
June 30, 2021 7:30 AM EDTVICTOR, N.Y., June 30, 2021 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, reported today its first quarter fiscal 2022 results. A conference call to discuss the financial results and outlook will be hosted by President and Chief Executive Officer Bill Newlands and Chief Financial Officer Garth Hankinson on Wednesday, June 30, 2021, at 11:30 a.m. (EDT).
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