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.

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.