5 Best Alcohol Stocks To Buy Heading Into 2023

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

Number of Hedge Fund Holders: 44

Constellation Brands, Inc. (NYSE:STZ) is one of the best alcohol stocks to buy heading into 2023. The New York-based company produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. On October 6, Constellation Brands, Inc. (NYSE:STZ) declared a quarterly dividend of $0.80 per share, in line with previous. The dividend is payable on November 18, to shareholders of record on November 4. Constellation Brands, Inc. (NYSE:STZ) also posted market-beating results for the third quarter of 2022. 

On October 10, Wedbush analyst Gerald Pascarelli initiated coverage of Constellation Brands, Inc. (NYSE:STZ) with an Outperform rating and a $275 price target. The company’s beer portfolio continues to deliver increasing levels of sales growth and solid levels of market share gains, the analyst told investors in a research note. He added that consumer demand, incremental distribution gains, and promising demographic trends continue to be in Constellation Brands, Inc. (NYSE:STZ)’s favor.

According to Insider Monkey’s data, 44 hedge funds were bullish on Constellation Brands, Inc. (NYSE:STZ) at the end of June 2022, compared to 41 funds in the last quarter. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital is the biggest stakeholder of the company, with 1.4 million shares worth $326 million. 

You can also take a look at Largest Retailers in the US and Biggest Logistics and Shipping Companies in the World. 

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