ClearBridge Investments Established a Stake in Constellation Brands (STZ)

ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund underperformed its benchmark index. Stocks from IT, healthcare, industrials, and consumer discretionary posted losses during the quarter, however stocks from consumer staples and financials sectors contributed to the performance of the fund. To know about the fund’s best picks in 2022, please check its top 5 holdings.

In the letter, ClearBridge Investments discussed its Select Strategy portfolio. The firm holds stocks like Constellation Brands, Inc. (NYSE:STZ). Constellation Brands, Inc. (NYSE:STZ) engages in the production and marketing of beer, wine, and spirits, and is headquartered in Victor, New York. The stock of Constellation Brands, Inc. (NYSE:STZ) closed at $246.58 per share on August 3, 2022. One-month return of Constellation Brands, Inc. (NYSE:STZ) was 2.06% and its shares gained 12.33% of their value over the last 52 weeks. Constellation Brands, Inc. (NYSE:STZ) has a market capitalization of $46.859 billion.

Here is what ClearBridge Select Strategy specifically said about Constellation Brands, Inc. (NYSE:STZ) in its second-quarter investor letter:

”Our investment philosophy is to lean into growth, owning companies that control their own destinies, are taking market and mind share and are levered to secular tailwinds such as elevating efficiency and implementing data-driven decisions. At the same time, we have been tactically pivoting the portfolio to favor companies with less risk to near-term earnings and revenue numbers. Monster Beverage (MNST) and Constellation Brands, Inc. (NYSE:STZ), two beverage makers we added at advantageous prices in 2021, are examples of steady compounders that have held up well through the equity downturn.”

Photo by Adam Wilson on Unsplash

Constellation Brands, Inc. (NYSE:STZ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database 41 hedge fund portfolios held Constellation Brands, Inc. (NYSE:STZ) at the end of the first quarter which was 48 in the previous quarter.

We discussed Constellation Brands, Inc. (NYSE:STZ) in another article that shared Jim Cramer’s best recession stocks to buy. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.