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Does Brown-Forman Corporation (BF-B) Have Solid Long-Term Outlook?

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4 months ago

July 23, 2024

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Does Brown-Forman Corporation (BF-B) Have Solid Long-Term Outlook?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund (Class Y) declined 4.30% compared to a 3.35% decrease for the Russell Midcap Index. The Fund returned 4.91%, in the year-to-date six months, compared to 4.96% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Madison Mid Cap Fund highlighted stocks like Brown-Forman Corporation (NYSE:BF-B), in the second quarter 2024 investor letter. Brown-Forman Corporation (NYSE:BF-B) manufactures, distills, bottles, imports, exports, markets, and sells various alcoholic beverages. The one-month return of Brown-Forman Corporation (NYSE:BF-B) was 0.72%, and its shares lost 37.62% of their value over the last 52 weeks. On July 22, 2024, Brown-Forman Corporation (NYSE:BF-B) stock closed at $43.52 per share with a market capitalization of $20.782 billion.

Madison Mid Cap Fund stated the following regarding Brown-Forman Corporation (NYSE:BF-B) in its Q2 2024 investor letter:

“We also made two adds and two trims during the quarter. We added to Brown-Forman Corporation (NYSE:BF-B) and Thor Industries. Brown-Forman is facing a slight decline in sales, which has elevated investor concern over risks to demand from increased competition and changes in consumer tastes. We believe the long-term outlook for the category and the Jack Daniels brand remains solid.”

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Brown-Forman Corporation (NYSE:BF-B) is not on our list of 31 Most Popular Stocks Among Hedge Funds. Brown-Forman Corporation (NYSE:BF-B) was held by 30 hedge fund portfolios at the end of the first quarter, compared to 21 in the previous quarter, according to our database. While we acknowledge the potential of Brown-Forman Corporation (NYSE:BF-B) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.

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