5 Best Whiskey and Alcohol Stocks To Buy in 2022

2. Brown-Forman Corporation (NYSE:BF.B)

Number of Hedge Fund Holders: 34

Brown-Forman Corporation (NYSE:BF.B) manufactures, distills, and sells various alcoholic beverages. The company boasts a portfolio of premium brands, including Jack Daniel’s, Woodford Reserve, Old Forester, GlenDronach, Benriach, Glenglassaugh, Slane Irish Whiskey, and  Korbel Champagne among others. Brown-Forman Corporation (NYSE:BF.B) is one of the largest companies in the liquor business by market share, which stands at $31.32 billion as of May 13, and is also the owner of the most premium beer brands which justifies the stock’s runner-up rank among the 10 best whiskey and alcohol stocks to buy in 2022.

On March 30, 2022, JPMorgan analyst Andrea Teixeira lowered her price target on Brown-Forman Corporation (NYSE:BF.B) to $73 from $76 and reiterated a Neutral rating on the shares. Teixeira slashed her price target to reflect the impact of the Ukraine conflict on commodities costs, transportation, and currency, however, she expects demand to remain robust as consumers continue to favor brands over private labels.

Insider Monkey spotted Brown-Forman Corporation (NYSE:BF.B) on 34 investment portfolios at the close of the fourth quarter of 2021. The total stakes of these funds were valued at $1.87 billion. This is compared to $1.65 billion in the preceding quarter with 31 positions. The hedge fund sentiment for the stock is positive.

As of March 31, Gardner Russo & Gardner is the most prominent stakeholder in Brown-Forman Corporation (NYSE:BF.B) with more than 2.7 million shares of stock which amount to a stake of $169.43 million. The investment covers 1.63% of its 13F portfolio.