5 Best Alcohol Stocks to Own According to Hedge Funds

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

Number of Hedge Fund Holders: 30

Brown-Forman Corporation (NYSE:BF-B) engages in the production, distillation, bottling, import, export, marketing, and sale of a wide range of alcoholic beverages. This includes spirits, wines, whiskeys, flavored liqueurs based on whiskey, pre-mixed and pourable products, cocktails, vodkas, tequilas, champagnes, brandy, bourbons, and liqueurs. 

Brown Forman fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges, and a significant inventory rebuild. The company reported Q1 revenue of $1.04 billion against the expectations of $1.05 billion, with EPS of $0.48 against expectations of $0.53. 

Shares of Brown-Forman Corporation (NYSE:BF-B) were held by 30 hedge funds at the end of Q2 in the Insider Monkey database, with Fundsmith LLP holding the largest stake of over 12.19 million shares, valued at $814.41 million.