Constellation Brands ' (STZ) push to reduce costs gives us increased confidence that the Corona and Modelo beer maker can deliver strong future growth and create additional value for shareholders.
Management said that by optimizing its beer expansion efforts, the company was able to reduce $1 billion in expenses.
Since last month's trade, shares of Constellation were up roughly 3%.
As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons:
Jim Cramer, Elliot Management, Jim Cramer's, Jim, Scott Eells
Organizations:
Constellation Brands, Corona, Modelo, Barclays, Management, Wine, Constellation, CNBC, Bloomberg, Getty
Locations:
New York