10 Best Alcohol Stocks To Own According to Hedge Funds

2. Monster Beverage Corporation (NASDAQ:MNST)

Number of Hedge Fund Holders: 37

Monster Energy Beverage Corporation (NASDAQ:MNST) is an American beverage company that manufactures energy drinks including Monster Energy, Relentless, and Burn. It was announced in 2022 that the beverage giant had acquired the CANarchy Craft Brewery Collective in a deal worth $330 million. The acquisition gave Monster ownership of CANarchy’s craft breweries including Cigar City, Oskar Blues, Deep Ellum, Perrin Brewing, Squatters, and Wasatch.

Monster Energy Beverage Corporation (NASDAQ:MNST) also announced on the 31st of January 2024 that effective immediately, CANarchy Craft Brewery Collective would operate under the name Monster Brewing Company. CANarchy’s new alcohol products, The Beast Unleashed™ and Nasty Beast™ Hard Tea, now represent the majority of the California-based company’s alcohol beverage sales. This change will better align the business with Monster’s brand equity, particularly as these products are expected to continue to play an increasingly important role in CANarchy’s future activities.

Monster Beverage Corporation (NASDAQ:MNST) is one of the key players in the energy drinks industry, with a solid market share of 24% in US sales. This puts it in a great position to benefit from the American energy drinks market, which has grown by 73% over the last 5 years. MNST also announced earlier this month that it has authorized a new share repurchase program for the repurchase of up to an additional $500 million of its common stock. This initiative comes after the completion of its previous buyback program and reflects the company’s confidence in its financial strength and commitment to delivering value to its shareholders.