In this article, we discuss 5 best beverage stocks to buy. If you want to see more stocks in this selection, check out 10 Best Beverage Stocks To Buy.
5. Brown-Forman Corporation (NYSE:BF-B)
Number of Hedge Fund Holders: 36
Brown-Forman Corporation (NYSE:BF-B) is engaged in the production, distillation, bottling, import, export, marketing, and sale of a wide range of alcoholic beverages. The company offers an assortment of spirits, wines, whiskey spirits, flavored liqueurs based on whiskey, pre-mixed beverages, cocktails, vodkas, tequilas, champagnes, brandy, bourbons, and liqueurs. Brown-Forman Corporation (NYSE:BF-B) is one of the best beverage stocks to invest in. Due to the ongoing success of its brand portfolio, high consumer demand, and the gradual return of inventories to expected levels, Brown-Forman Corporation (NYSE:BF-B) anticipates organic net sales growth within the range of 8% to 10% in FY 2023.
On March 20, Deutsche Bank maintained a Hold rating on Brown-Forman Corporation (NYSE:BF-B) and revised down the price target for the shares from $70 to $65. The analyst expressed growing concerns about potential economic challenges that could impact the consumer staples sector. This heightened risk perception raises apprehensions regarding the future company fundamentals across a significant portion of Deutsche Bank’s coverage.
According to Insider Monkey’s fourth quarter database, 36 hedge funds were long Brown-Forman Corporation (NYSE:BF-B), and Terry Smith’s Fundsmith LLP is the largest stakeholder of the company, with 12 million shares worth $798 million.