Jim Cramer’s Recession Portfolio: Top 5 Stock Picks

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

Number of Hedge Fund Holders: 41

Constellation Brands, Inc. (NYSE:STZ) produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company offers its products under premium labels such as Corona, Victoria, Cook’s California Champagne, Cooper & Thief, Kim Crawford, Casa Noble, and Copper & Kings among others. Constellation Brands, Inc. (NYSE:STZ) is one of Jim Cramer’s top recommendations for a severe recession.

Wall Street is bullish on Constellation Brands, Inc. (NYSE:STZ). On July 5, Barclays analyst Lauren Lieberman raised her price target on Constellation Brands, Inc. (NYSE:STZ) to $281 from $272 and reiterated a buy-side Overweight rating on the shares. The analyst cited solid fundamentals across the beer, wine & spirits market to support her bull case. On July 13, Redburn analyst Tristan Van Strien initiated coverage of Constellation Brands, Inc. (NYSE:STZ) with a Buy rating.

As of July 29, Constellation Brands, Inc. (NYSE:STZ) has gained 9.79% over the past twelve months and is offering a forward dividend yield of 1.30%, which the company supports with trailing twelve-month free cash flows of $1.63 billion.

At the end of Q1 2022, 41 hedge funds held stakes in Constellation Brands, Inc. (NYSE:STZ) worth $982.32 million. Of these, Harris Associates was the most prominent shareholder and held stakes worth $771.77 million in the company.