5 Beverage Stocks to Buy Now Despite Economic Headwinds

In this article, we discuss 5 beverage stocks to buy now despite economic headwinds. If you want to see more stocks on this list, check out “Preferred Sector”: 10 Beverage Stocks to Buy Now Despite Economic Headwinds. 

5. Constellation Brands, Inc. (NASDAQ:STZ)

Number of Hedge Fund Holders: 41

Constellation Brands, Inc. (NASDAQ:STZ) is a New York-based company that produces, imports, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. On July 13, Redburn analyst Tristan Van Strien initiated coverage of Constellation Brands, Inc. (NASDAQ:STZ) with a Buy rating. Similarly, Barclays analyst Lauren Lieberman on July 5 raised the price target on Constellation Brands, Inc. (NASDAQ:STZ) to $281 from $272 and maintained an Overweight rating on the shares. The analyst said fundamentals “look very solid” across beer, wine, and spirits. She expects Constellation Brands, Inc. (NASDAQ:STZ) “will prove rare” for expanding reinvestment plans in 2022.

On July 30, Constellation Brands, Inc. (NASDAQ:STZ) declared a quarterly dividend of $0.80 per share, in line with previous. The dividend is payable on August 24, to shareholders of record on August 10. The stock delivers a dividend yield of 1.29% as of July 28. 

According to Insider Monkey’s database, Constellation Brands, Inc. (NASDAQ:STZ) was part of 41 hedge fund portfolios at the end of Q1 2022, compared to 48 funds in the earlier quarter. Harris Associates is the biggest shareholder of the company, with 3.35 million shares worth $771.7 million.