5 Best Sin Stocks To Buy in 2023

1. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 63

Philip Morris is one of the best sin stocks to buy in 2023. The company continues to enjoy dominance in the ever-growing tobacco industry. It is a solid defensive play to survive through recession. The company has a dividend yield of over 5% as of January 5. Our hedge fund database shows that Philip Morris is the favorite sin stock among elite hedge funds. 63 hedge funds tracked by Insider Monkey had positions in the company as of the end of the third quarter of 2022, compared to 56 funds in the previous quarter.

On December 8, Philip Morris (NYSE:PM) declared a $1.27/share quarterly dividend, in line with previous. The stock has gained about 5% over the past year.

Here is what Coho Relative Value Equity Fund has to say about Philip Morris International Inc. (NYSE:PM) in its Q3 2022 investor letter:

“Coho is not immune to the earnings pressure exerted by a strong USD, although the portfolio on the whole has modestly less foreign revenue exposure relative to the S&P 500 Index. The two most impacted Coho stocks includes Philip Morris International, which essentially derives all of its revenues outside the U.S. Harkening back to Table 1, the decline in Philip Morris earnings for 2022 versus the reported earnings in 2021 is entirely related to the strengthening dollar. On a constant currency basis, Philip Morris’ earnings in 2022 would be up mid to high single digits.”

You can also take a peek at 10 Stocks to Buy According to Mark T. Gallogly’s Centerbridge Partners and 8 Stocks to Buy According to Alexander Captain’s Cat Rock Capital.