SBMRY

Following a strong performance by the Beer segment in the first half of fiscal 2017, Constellation Brands (STZ) expects the segment’s net sales for fiscal 2017 to grow 16%–17%.

Constellation Brands (STZ) is leveraging the strong demand for its imported beers. It has an impressive portfolio of Mexican beer brands.

The Fidelity Diversified International Fund (FDIVX) primarily invests in non-US securities and prefers common stocks for investing in equities.

After the UK’s exit from the European Union (EZU) (HEDJ), it’s expected that the UK’s economic activity will fall.

Altria Group (MO) and Philip Morris International (PM) are trading at higher valuations relative to the S&P 500 Index (SPY) (IVV) (VOO) and the Dow Jones Industrial Average (DIA).

In fiscal 2016, which ended on February 29, 2016, Constellation Brands’ beer business accounted for 55.3% of the company’s sales, up from 52.9% in fiscal 2015.

After missing revenue expectations last quarter, Altria came in ahead of analysts’ estimates in 1Q16. Analysts had projected revenue of $4.4 billion.

Altria Group (MO) released its 1Q16 earnings on April 28, 2016. Its adjusted diluted EPS (earnings per share) rose 14.3% to $0.72 in 1Q16.

US corporates dominated the primary market for high-grade bonds in 1Q16 ended March 31, 2016. US corporates made up 32.2%, or $147.7 billion, of all issues.

Constellation Brands (STZ) is acquiring The Prisoner Wine Company’s portfolio of brands from Huneeus Vintners, a fine wine company.

The Fidelity Advisor Overseas Fund – Class A (FAOAX) was incepted in September 1996 and has an expense ratio of 1.4%.

Altria’s (MO) net revenue of excise taxes increased 2.5% to $4.7 billion in fiscal 4Q15. But it missed revenue estimates after beating them for five consecutive quarters.

What saved PEUGX in 2015 were its picks from the consumer staples, telecom services, and utilities sectors.

Altria Group is set to release its 4Q15 and 2015 earnings on January 28, 2016. MO’s earnings were in-line with Wall Street analysts’ expectations in 3Q15.

Anheuser-Busch InBev (BUD) issued $46.0 billion in high-grade bonds rated A2/A- rated on January 13. This was the second largest high-grade bond issuance on record.

Constellation Brands is ramping up its beer production capacity in response to rising demand. The company’s beer brands are quite popular with US consumers.

In the trailing-one-year period, PEUGX has returned 1.0%, while from November’s end until December 22, the fund has fallen 4.5%.

The Putnam Europe Equity Fund rose 4.5% in October 2015 from a month ago. It fell 4.7% in the three-month period ended October 30, 2015.

SABMiller’s board has refused three bids made by Anheuser-Busch InBev. ABI’s third offer was for 42.15 pounds per share.

ABI expects to finance the transaction using a combination of internally generated cash and external debt.

Altria’s support as SABMiller’s largest shareholder is vital. The company has held a stake in SABMiller since 2002.

The partial shares option structured with ABI’s proposal is not an advantageous option for many of SABMiller shareholders. This is due to the illiquidity of the restricted shares proposed to be issued by ABI under the option.

On October 7, Anheuser-Busch InBev announced a formal cash bid of 42.2 pounds per share to SABMiller’s board. This was the third offer rejected by SABMiller.

Altria Group owns about 27% of SABMiller. Based on market cap stats as of September 21, that’s about 23% of Altria’s market value.

ABI could leverage ~$50 billion through debt financing. As of June 30, its total debt was ~$51.5 billion, with a total-debt-to-total-assets ratio of ~35.9%.

ABI is a leading company in the consumer staples sector. It has had a strong record of integrating acquisitions and delivering synergies ahead of target.

ABI has been one of the most active companies in the acquisition of other beer firms. The Belgium-based company itself came from a prior $52 billion deal.

The top five beer brewers accounted for nearly 52% of the total global sales volume in 2014. ABI is the leader worldwide with 20.8% of the market share.

Boston Beer Company Inc. (SAM) is the largest craft brewer in the United States, having sold ~2.7 million barrels of proprietary core brand products.