5 Best Whiskey and Alcohol Stocks To Buy in 2022

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

Number of Hedge Fund Holders: 48

Constellation Brands, Inc. (NYSE:STZ) produces, imports, and sells alcoholic beverages in the United States, Canada, Mexico, New Zealand, and Italy. The company boasts a portfolio of premium alcohol brands including Corona Extra, Corona Light, Modelo Especial, Modelo Negra, Pacifico, 7 Moons, Cook’s California Champagne, Cooper & Thief, Crafters Union, and Kim Crawford among others. Constellation Brands, Inc. (NYSE:STZ) is packing up momentum and as of May 13, the stock has appreciated by 8.78% over the past six months, which makes it a high-momentum whiskey and alcohol stock to buy in 2022.

On April 7, Constellation Brands, Inc. (NYSE:STZ) reported a profitable fiscal fourth quarter for 2022. The company reported earnings per share of $2.37 and beat estimates by $0.25. Moreover, the company’s revenues were valued at $2.10 billion, up 7.65% year over year, and outperformed market consensus by a hefty $85.60 million.

Shortly after Constellation Brands, Inc. (NYSE:STZ) posted market-beating earnings, JPMorgan analyst Andrea Teixeira slashed her price target on the stock to $271 from $276 but maintained an Overweight rating on the shares. Teixeira noted that the company’s operational performance demonstrates strength in beer with depletions nearly up 10% in the quarter despite a difficult January and the impact of the Omicron variant. The analyst further stated that Constellation Brands, Inc. (NYSE:STZ) is on the path to gaining momentum from beer sales, naming the company the “best GARP” in her note to investors.

Hedge funds are making sizeable investments in Constellation Brands, Inc. (NYSE:STZ). At the end of the fourth quarter of 2021, 48 hedge funds were long Constellation Brands, Inc. (NYSE:STZ) with stakes worth $1.31 billion.

Arrowstreet Capital is the most bullish hedge fund on Constellation Brands, Inc. (NYSE:STZ) as of March 2022. The fund’s stakes came in at $236.91 million, which covers 0.29% of its 13F portfolio.

You can also take a look at 10 Weed Stocks to Buy in 2022 and 15 Most Valuable Cigarette Companies in the World.

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