5 Best Wine Stocks To Buy Heading Into 2023

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

Number of Hedge Fund Holders: 43

Constellation Brands, Inc. (NYSE:STZ) is a New York-based company that produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company offers wine under the 7 Moons, Cook’s California Champagne, Cooper & Thief, Crafters Union, Kim Crawford, Mount Veeder, Ruffino, SIMI, The Dreaming Tree, Charles Smith, The Prisoner Wine Company, Robert Mondavi, My Favorite Neighbor, and Schrader brands. For FY2023, the company updated comparable basis EPS guidance to $11.20 to $11.60 from the prior EPS guidance of $11.20 to $11.50, while the consensus came in at $11.05. Constellation Brands, Inc. (NYSE:STZ) also expects operating cash flow to be $2.6 billion to $2.8 billion and free cash flow to be between $1.3 billion to $1.4 billion.

On December 6, Deutsche Bank analyst Steve Powers raised the price target on Constellation Brands, Inc. (NYSE:STZ) to $249 from $244 and reiterated a Hold rating on the shares. 

According to Insider Monkey’s Q3 data, Constellation Brands, Inc. (NYSE:STZ) was part of 43 hedge fund portfolios, compared to 44 in the prior quarter. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital held the largest position in the company, with 1.36 million shares worth $313.5 million.

You can also take a look at 12 Most Advanced Countries in Space Technology and Real Estate Investing For Beginners.