Happy St. Patrick’s Day! Top 3 alcohol stocks to cheer for right now

The day of shamrocks, wearing green and making merry is upon us – it’s officially St. Patrick’s Day.

So, we thought we’d get into the spirit of things by rounding up the three cheeriest alcohol stocks to toast this March 18^th.

1. Constellation Brands
2. Diageo
3. LVMH

1. Constellation Brands

Constellation Brands is the maker of beers Corona and Modelo, among many other beers, wines and spirits.

In March, two of the world’s biggest banks have personally named Constellation Brands as one to watch.

Citigroup put a 30-day positive catalyst watch on Constellation, while Wells Fargo analyst Christopher Carey announced that he was keeping his ‘buy’ rating for the alcohol brand on March 11th.

The company also got a new executive vice president recently, industry veteran Sam Glaetzer.

And that’s not all. Constellation shares have been having a particularly sparkling time recently. Its stock price is up more than 9% this month and this year to date alone. In fact, in the past 12 months, Constellation’s share price has risen a festive 24.25%.

It might be a good idea for some to get in on the action now, before the company reports earnings on April 11^th next month.

2. Diageo

As the owner of Guiness beer, Diageo may well be the modern-day patron saint of St. Patrick’s Day.

But the share price of the UK’s biggest alcohol company is down more than 17% in the past year. So, why is it on this list?

For two reasons. Firstly, Diageo is that rare thing in investing, a dividend aristocrat that pays out two annual dividends without fail.

The company’s next dividend is set to be 40.50 pence per share, and will be paid out in April.

Secondly, the Diageo brand is still incredibly popular – tourists at its Scottish visitor centres surpassed 1 million people for the first time in 2023 – and is also due for something of a renaissance, given that its stock price is up almost 3% this year so far.

3. LVMH

When you read the name LVMH, you may think of couture fashion and fancy fragrances first. But the luxury supergroup is also owner of some of the most exclusive alcohol brands in the world, including Hennesy, Moët and Veuve Clicquot.  

The brand is sure to be top of mind at the Summer Olympics in Paris this year, with LVMH having announced last year that the company will be sponsoring the event, as well as supplying Chaumet medals and Moët Hennessy wine for the winners.

It also helps that the LVMH share price has had a great run recently. LVMH is up 4.67% in past month, and an impressive 18.99% this year to date so far.

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