Beverage Stocks to Watch: (STZ), (SAM), (ABV)
Category: Investment, Beverage
Visit: Constellation Brands Inc.
Point Roberts, WA - February 21, 2013 (www.investorideas.com newswire) Investorideas.com staff: Investorideas.com, an investor research portal specializing in sector research for independent investors reports on wine and beverage stocks trading for February 21st, 2013.
Constellation Brands Inc., (NYSE:STZ) trading at $42.42 gained $0.62 or 1.48% on a high volume of 6,695,301 and is today's top beverage stock to watch.
Shares of Constellation Brands rose earlier today amid raised hopes of a favorable conclusion to a courtroom battle with the Department of Justice over the $20.1 billion sale of Corona maker Grupo Modelo.
Yesterday Constellation, Anheuser-Busch InBev and the DOJ agreed to request a stay of all litigation proceedings on the Modelo matter until March 19 as they continue to negotiate a settlement.
Constellation's stock plummeted around 20% after the DOJ filed suit on January 31 to block AB InBev's $20.1 billion deal to take full control of Corona maker Grupo Modelo by acquiring Constellation's 50% stake.
Regulators fear the deal would end up hurting competition and lead to higher prices on consumers by marrying brands like Budweiser and Stella Artois with Corona Extra and Modelo Especial.
In an effort to alleviate those concerns, last week AB InBev said it would be willing to unload Modelo's Piedras Negras Mexican brewery to Constellation and grant it perpetual rights for Corona and other Modelo brands in the U.S. for $2.9 billion.
Boston Beer Co. Inc., (NYSE:SAM) trading at $150.69 lowered by $2.25 or 1.47% on a volume of 144,721 shares.
Boston Beer reported earnings on yesterday which showed that for the quarter ended Dec. 29 th; Boston Beer met expectations on revenues and missed estimates on earnings per share.
Boston Beer's revenue of $153.0 million met with the four analysts polled by S&P Capital IQ and their estimated $152.5 million. GAAP reported sales were 7.7% higher than the prior-year quarter's $142.1 million.
The company has also announced its upcoming expansion into cans, which will begin with Boston Lager and its seasonal Summer Ale beer. Summer Ale is typically available from March through July. Boston Beer has announced summer 2013 as a tentative release date where beer will be available in 12 packs for a suggested retail price of $14.99 to $17.99.
The canning program, which has been in development for over a year to ensure proper quality of the finished product, will open up several new revenue sources for the craft brew company. Canned beer will now allow Sam Adams fans and new drinkers to enjoy the beers in sports arenas, on airlines, on beaches, and other places which will allow Sam Adams to compete more directly with larger beer brands such as AB Inbev, Molson Coors, and SAB Miller.
Companhia de Bebidas Das Americas (NYSE:ABV) trading at $45.09 dropped by $1.62 or 3.47% on a volume of 1,468,926 shares.
Though currently on a downward slide, Companhia de Bebidas das Americas Ambev rose 53 cents (1.1%) to $46.85 on average volume last week and traded over 2.1 million shares of as compared to its average daily volume of 1.9 million shares. The stock ranged in a price between $46.13-$46.86 and the week before reached a 52 week high.
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BC Residents and Investor Disclaimer: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.