5 Best Wine Stocks to Invest In 2022

3. The Duckhorn Portfolio, Inc. (NYSE:NAPA)

Number of Hedge Fund Holders: 13

The Duckhorn Portfolio, Inc. (NYSE:NAPA) is an American wine company based out of Saint Helena, California. It sells several different wine brands and conducts sales directly to retailers, customers, and distributors.

The Duckhorn Portfolio, Inc. (NYSE:NAPA)’s sales for the first quarter of this year grew by 11% annually and were driven primarily by the volumes of products shipped. For the remainder of this year, the midpoint of the company’s guided revenue entails that annually, its revenue stands to grow at 10%. The earnings guidance which currently stands between $0.59 and $0.62 implies a high price to earnings multiple of 30.2. This makes The Duckhorn Portfolio, Inc. (NYSE:NAPA) a growth stock, even when compared to some of its larger peers.

However, investment bank JP Morgan believes that The Duckhorn Portfolio, Inc. (NYSE:NAPA) will issue weak revenue guidance for its fiscal year 2023, due to which the bank cut the company’s share price target to $19 from $24 in September 2022. However, JP Morgan’s Andrea Teixeira said that Duckhorn Portfolio Inc (NYSE:NAPA)’s long-term prospects are promising.

13 out of the 895 funds part of Insider Monkey’s survey for their second quarter of 2022 holdings had held a stake in the company.

The Duckhorn Portfolio, Inc. (NYSE:NAPA)’s largest investor is Robert Joseph Caruso’s Select Equity Group which owns 6.9 million shares that are worth $144 million.