Jim Cramer Loves These 5 Stocks

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

Number of Hedge Fund Holders: 41

Total Value of Hedge Funds’ Holding: $982,324,000

Constellation Brands, Inc. (NYSE:STZ) is a New York-based beer, wine, and spirits company. On May 5, Cramer initiated a position in the stock. During an interview on Mad Money, CEO Bill Newlands highlighted that the Modelo brand fulfills the demand of the consumers and has robust growth prospects.

Furthermore, Constellation Brands, Inc. (NYSE:STZ) intends to fulfill its share repurchase program to boost shareholder return. Newlands also highlighted that the pressures due to cost have been unreal, but he anticipates inflation to ease down going forward. Brands like Corona and Modelo cater to the growing Hispanic community. Cramer stated that beer consumption rises during periods of recession, making Constellation Brands, Inc. (NYSE:STZ) a great pick.

As of Q1 2022, 41 hedge funds held a stake in Constellation Brands, Inc. (NYSE:STZ).