5 Best Brewery and Distillery Stocks to Buy Now

2. Molson Coors Beverage Company (NYSE:TAP) 

Number of Hedge Fund Holders: 43

Molson Coors Beverage Company (NYSE:TAP) is a multinational beverage and brewing company that engages in the production, marketing, and sale of beer, malt beverage products, and now also spirits across multiple regions including the Americas, Europe, the Middle East, Africa, and the Asia Pacific. For Q4 2023, reported underlying earnings of $1.5 billion before taxes for 2023, up 39% YoY. Full-year revenue also rose 9% to $11.7 billion.

However, after having such a stellar year,  Molson Coors has been under the spotlight this week after more than 400 Teamsters are on strike at the company’s brewery in Fort Worth, Texas, impacting production for North America’s second largest brewer. The union claims the company’s offer was “insulting” considering how well it is doing financially, offering less than a $1 per hour wage increase for the majority of Teamsters members.