Jim Cramer Discussed These 29 Stocks Ahead Of Major AI Event

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

Number of Hedge Fund Holders In Q3 2024: 36

Constellation Brands, Inc. (NYSE:STZ) is an alcohol company that sells well-known spirits and beers such as Corona. Its shares are down 13.51% over the past twelve months as overall demand in the wine and spirit market has declined due to high inflation. While its shares dropped by 1.6% in January after the Surgeon General’s recommendation to place cancer warnings on alcoholic beverages, they gained 2.49% after Constellation Brands, Inc. (NYSE:STZ)’s fiscal third-quarter profit per share of $3.19 beat analyst estimates of $3. Here’s what Cramer said:

“Sometimes I like to mention things that I do wrong because I can also mention things that I do right if I do wrong. We have been buying Constellation Brands, and it’s basically the Mariana’s Trench. I mean we just keep going down, down, down. We were looking for, we were, all we were looking for were tuna! And what we got, was a stock that makes beer in another country. This would make it so that you would not have a tariff on beer. I don’t think it’s a very popular thing to say, you know what working person, the price of beer is going up, which by the way, Lina Khan in her last action suing distributors, when I speak to distributors and I’m very close to them, that last one was a universal increase in the price of alcohol.

“Completing her completely misdefined notion of making it so that anything that is good is bad. They report Friday and it’s been wrong because we know from Diageo, we know from Brown Forman that when you do everything including [inaudible] putting a sticker which says it causes cancer, you really have a revulsion of alcohol of historic proportions. I come back and say that alcohol is a cyclical business. It’s not a secular business. And people will come back to drinking. But GLP-1 against drink, surgeon general against drink, cannabis against drink, but maybe not tariffs against drink.”