ROCHESTER, NY – Constellation Brands, Inc. (NYSE:STZ), a leading beverage company, reported today the immediate departure of Judy A. Schmeling from its Board of Directors. The resignation, effective today, was not the result of any disagreements with the company's operations, policies, or practices.
The company, known for its production of beer, wine, and spirits, expressed its gratitude for Ms. Schmeling's contributions during her tenure on the board. Constellation Brands' leadership and board members extended their best wishes for her future endeavors.
In its filing with the Securities and Exchange Commission, Constellation Brands did not indicate any disputes or issues leading to the resignation. The company's statement also did not specify a successor or plans for filling the vacancy on the board.
Ms. Schmeling's departure comes at a time when Constellation Brands continues to hold a significant position in the beverage industry. The company's portfolio includes a range of well-known brands, and it has consistently been a prominent player in its sector.
In other recent news, Constellation Brands has seen a range of developments. The beverage company reported strong first-quarter earnings for fiscal year 2025, with earnings per share (EPS) of $3.57, driven by robust beer margins and decreased interest expenses.
Meanwhile, Morgan Stanley lowered the stock's price target from $305.00 to $280.00, citing near-term challenges, but maintained an Overweight rating, suggesting sustained long-term growth.
The company's Annual Meeting of Stockholders resulted in the election of thirteen directors and the ratification of KPMG LLP as the independent auditor for the upcoming fiscal year. However, three stockholder proposals related to environmental concerns were not approved.
Several analyst firms, including Jefferies, Piper Sandler, and Argus, have maintained positive ratings for Constellation Brands. Jefferies highlighted impressive sales and EBITDA growth, while Piper Sandler emphasized the company's potential for long-term growth. Argus maintained a Buy rating with a price target of $306.00, citing potential for robust sales and earnings growth.
The company's beer portfolio saw high-single-digit net sales growth, marking a 57th consecutive quarter of depletion growth. These are the recent developments that have shaped the company's trajectory.
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