Constellation Brands: Tax Woes Trump Strong Earnings
January 05, 2017 at 09:48 AM EST
Worries about how the new tax policies of President-election Donald Trump might impact Constellation Brands ( STZ ) continues to worry investors. The alcoholic beverage giant has prospered since its $5.3 billion acquisition of the U.S. distribution rights for Corona and several other Mexican beers. Earlier today, the company posted forecast-beating fiscal third quarter earnings fueled by a jump in beer sales and lifted its fiscal 2017 full-year outlook , largely to reflect a lower tax rate. Yet Constellation’s stock price is down almost 3.8% today, trading at a recent $152 a share.