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

Number of Hedge Fund Holders In Q3 2024: 24

Brown-Forman Corporation (NYSE:BF-B) is one of the largest alcoholic beverage companies in the US. It is known primarily for its popular Jack Daniel’s whisky lineup. The shares are down by 40% over the past year as rising costs and lower consumer spending have dented Brown-Forman Corporation (NYSE:BF-B)’s income statement. The turmoil forced the firm to announce a 12% workforce reduction in January. Cramer believes that while the broader alcoholic beverage industry is facing headwinds, some of Brown-Forman Corporation (NYSE:BF-B)’s troubles are of its own making:

“Whisky’s so horrible.”

“But I have to tell you, when I look at liquor, Brown Forman, put money away from Jack Daniel’s, they thought they could get away with it, they put it like on like Tennessee Honey, they didn’t support their main brand. I don’t know, wow. Look at that.” “People were buying their barrels. You know guys were long barrels. When I went to Texas two years ago guys said listen I got barrels. Would like to buy barrels? Yeah, they were trading barrels.”