Gold bars to be exempt from tariffs, White House clarifies
Constellation Brands, Inc. (NYSE:STZ), a $30.25 billion market cap beverage company, announced several corporate actions following its annual meeting held Tuesday, according to a statement based on a recent SEC filing. The company’s stock, currently trading at $171.52, has seen a challenging year with a -23% year-to-date return. According to InvestingPro analysis, the company maintains a FAIR financial health score, supported by strong EBITDA of $3.8 billion.
The company’s board of directors’ Human Resources Committee approved equity grants for Garth Hankinson, Executive Vice President and Chief Financial Officer. Hankinson received 7,531 restricted stock units (RSUs) and 7,531 performance share units (PSUs) under Constellation Brands’ Long-Term Stock Incentive Plan. The RSUs are set to vest on May 1, 2028, contingent on continued service, with provisions for pro-rated or accelerated vesting in certain circumstances such as termination without cause, good reason, death, or disability. The PSUs will be settled in Class A common stock, with the number of shares determined by the company’s enterprise cost savings and relative total stockholder return performance through the vesting period.
At the annual virtual meeting, shareholders elected 12 directors to serve one-year terms expiring at the 2026 annual meeting. Each director received a majority of votes cast. Among the nominees, Christy Clark received the highest number of votes for her election, with 153,344,775 shares in favor.
Shareholders also ratified the appointment of KPMG LLP as the company’s independent registered public accounting firm for the fiscal year ending February 28, 2026. The ratification received 160,873,738 votes in favor, 4,007,921 against, and 99,224 abstentions.
Additionally, an advisory vote to approve the compensation of the company’s named executive officers passed, with 146,512,941 votes for, 8,074,533 against, and 202,903 abstentions.
Constellation Brands, headquartered in Rochester, New York, is listed on the New York Stock Exchange under the ticker (NYSE:STZ). All information in this article is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Constellation Brands reported first-quarter earnings per share of $3.22, which fell short of Wall Street expectations due to softer organic sales growth and volume declines across key brands. Despite these results, the company maintained its fiscal year 2026 guidance, even accounting for a $20 million tariff impact. UBS responded by raising its price target for Constellation Brands to $205 while maintaining a Buy rating, citing a favorable long-term growth outlook. RBC Capital also reiterated its Outperform rating with a $233 price target, expressing confidence in the company’s near-term growth trajectory despite current macroeconomic challenges.
Evercore ISI maintained its Outperform rating and $210 price target, noting concerns about potential tariffs on Mexican imports that could impact earnings. The firm highlighted that a worst-case scenario could affect earnings by approximately $4.50 per share, though it considers this outcome unlikely. Meanwhile, TD Cowen reiterated a Hold rating with a $180 price target, citing concerns about beer margins and growth, and adjusted its fiscal year 2026 earnings estimate to $12.62. The firm believes the stock will remain range-bound until there is evidence of recovery in the core Hispanic consumer base and improved growth visibility.
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