not vested
Consumer Goods Stocks to Buy and Hold: Brown-Forman (BF.B)
Brown-Forman Corporation (NYSE:BF.B) is best known for making Jack Daniels Tennessee whiskey and many other fine spirits and wine.
What you might not know is that like Estee Lauder it’s also a family-controlled company with the Brown family and its various branches controlling more than 50% of the voting shares.
Founded by George Gavin Brown in 1870, like Estee Lauder, it’s grown into a global spirits powerhouse with annual revenues of $3 billion and almost $1 billion in operating income.
In March 2017, I suggested that Brown-Forman consider buying Boston Beer Company Inc (NYSE:SAM) as a platform for buying other craft beer makers and then repeat the process with whiskey, tequila, vodka, etc.
That hasn’t happened but it might not need to given how well Brown-Forman’s business is performing in fiscal 2018.
Through the first nine months of the fiscal year, revenues are up 9% over last year with operating income increasing by 11%.
For those who like dividends, Brown-Forman’s increased the annual dividend 34 years in a row.
Source: Investor Place