How is Wall Street Reacting To Constellation Brands’ (STZ) Divestment of Copper & Kings?

Constellation Brands, Inc. (NYSE:STZ) is one of the Most Undervalued US Stocks According to Wall Street Analysts. On August 5, Constellation Brands, Inc. (NYSE:STZ) announced the sale of its Copper & Kings American Brandy Company to Bourdon Spirits Company, which is a family-owned business in Louisville.

Copper & Kings is a well-known brand famous for high-quality American brandy and innovative bourbon. The production of brandy will continue at the Copper & Kings’ distillery in Kentucky following the acquisition. This comes as another divestment move from Constellation Brands, Inc. (NYSE:STZ) after it sold Svedka vodka to Sazerac in December. Management noted that this is another step towards a higher-end wine and spirit brand. The deal closed on August 5, and the financial details of the transaction were not disclosed.

How is Wall Street Reacting To Constellation Brands' (STZ) Divestment of Copper & Kings?

A winemaker examining a glass of red wine from a barrel in a cellar.

Since the announcement, Constellation Brands, Inc. (NYSE:STZ) is down nearly 2%.

Constellation Brands, Inc. (NYSE:STZ) produces and markets beer, wine, and spirits. The company owns well-known brands like Corona Extra and Robert Mondavi Winery.

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Disclosure: None. This article is originally published at Insider Monkey.