Topic: How To Invest

Q: Hello, Pat. What is your take on investing for the long term in Brown-Forman Corp.? Thanks.

Article Excerpt

A: Brown-Forman Corp., $44.97, symbol BF.B on New York (Shares outstanding: 472.7 million; Market cap: $21.3 billion; www.brown-forman.com), makes and sells alcoholic beverages. Based in Louisville Kentucky, the company was founded in 1870 with its first brand, Old Forester Kentucky Straight Bourbon Whisky. Since then, it has built a portfolio of more than 40 spirits, ready-to-drink cocktails, and wine brands that include some of the best-known and most-liked trademarks in its industry. The most important and iconic brand in the company’s portfolio is Jack Daniel’s Tennessee Whiskey, the #1 selling American whiskey globally. In addition, the 2023 ‘Best Global Brands’ rankings named Jack Daniel’s the most valuable spirits brand in the world. As well as popular whisky brands such as Glenglassaugh and Woodford, Brown-Forman also makes brandy and champagne (Korbel), gin (Fords and Mare), liqueur (Chambord), rums (Diplomatico), and tequilas (el Jimador). The company is the largest American-owned spirits and wine maker with a global reach. It sells its products in over 170 countries…