With St. Patrick’s Day right around the corner, could alcoholic beverage stocks see a pop due to the Luck of the Irish? ☘️ 🍻 Runnymede's Andy Wang Wedbush’s Gerald Pascarelli discuss the outlook for the beverage space with Nicole Petallides:

Andy's notes:

St. Patrick's Day

  • More than half of Americans plan to celebrate St. Patrick’s Day
  • Most popular day for beer drinking
  • Average number of drunks consumed per person: 4.2
  • 13M+ pints of Guinness will be consumed worldwide

Constellation Brands (STZ)

  • The growth story in beer
  • Consensus EPS forecast for the fiscal quarter ending Feb 2024 is $2.13
  • Trading at 22x 2024 EPS of $11.90
  • Beer portfolio viewed as “golden child” of the industry