Jim Cramer suggests that investors looking to establish a new position in Constellation Brands (STZ) - Get Report , or to bolster a current investment, should buy half of their planned stake ahead of Thursday's release of the company's first-quarter financial result, and the other half after the release.

"The stock typically trades down initially," Cramer said Wednesday in an interview from the floor of the New York Stock Exchange.

TheStreet's founder and manager of the Action Alerts PLUS portfolio is positive on the company's fundamental story, noting that Constellation Brands "is one of the only consumer products companies, other than WhiteWave Foods (WWAV) , that is positing double-digit growth."

The company's Modelo and Corona Extra Mexican beer brands have shown accelerating growth, Cramer noted. (Cramer has some insight into the trends in Mexican beer brands, as he's also the owner of a Mexican restaurant, Bar San Miguel, in Brooklyn, N.Y.)

Constellation, which also owns wine brands merchandised as Robert Mondavi, and spirits, such as Svedka vodka, is expected to post $1.52 in earnings per share Thursday, versus the $1.26 that it recorded in the year earlier period, on sales of $1.63 billion. For the full year, Constellation is expected to record $6.29 in EPS, up 16% year over year, boosted by an expected 19% gain in net sales.

The organic sales of the company's brands are seen rising 8% to 9%, while a continuing acquisition platform adds to the growth. Constellation also has succeeded in pushing through price increases for some of its brands. There are some risks, of course, from continued competition, particularly in the beer category.

Shares of the Victor, N.Y., company, trading at $158.25 a share Wednesday afternoon, have been on something of a tear, with the stock climbing 40% over the past 12 months.