5 Best Brewery and Distillery Stocks To Buy Now

1. Constellation Brands, Inc. (NYSE:STZ)

Number of Hedge Fund Holders: 42

Constellation Brands, Inc. (NYSE:STZ) is involved in the production, importation, marketing, and sale of beer, wine, and spirits across the United States, Canada, Mexico, New Zealand, and Italy. The company has made several acquisitions of breweries and distilleries throughout its history. It is one of the premier alcohol stocks to invest in. 

On April 6, Constellation Brands, Inc. (NYSE:STZ) declared a $0.89 per share quarterly dividend, an 11.3% increase from its prior dividend of $0.80. The dividend is payable on May 18, to shareholders of record on May 4. 

Barclays on April 11 maintained an Overweight rating on Constellation Brands, Inc. (NYSE:STZ) but reduced the price target on the shares from $279 to $277. According to Barclays, Constellation Brands, Inc. (NYSE:STZ) anticipates high single-digit growth for its beer business in fiscal 2024. However, the company intends to place a stronger emphasis on operational efficiencies compared to previous periods. Barclays considers this approach as “smart growth.”

According to Insider Monkey’s fourth quarter database, 42 hedge funds were bullish on Constellation Brands, Inc. (NYSE:STZ), compared to 43 funds in the earlier quarter. D E Shaw is the largest stakeholder of the company, with 579,915 shares worth $134.4 million. 

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