If you aren't comfortable with investing directly in cannabis companies, why not try investing in those companies that have major financial investments in Canadian and American pure-play cannabis stocks as represented in the munKNEE Conservative "Cannabis" Stocks Index. It was +3.6% in April (+2.4% YTD) compared to the Canadian Cannabis LP (see here) and American Cannabis MSO (see here) Indexes which were -11.0%, on average, in April (and -26.4% YTD).

The munKNEE Conservative "Cannabis" Stocks Index consists of 3 tobacco companies, 2 beer companies, and 1 liquor company that are significantly invested in cannabis companies and they are presented below, in descending order, as to:

• their stock performances in April and YTD and as compared to the Canadian cannabis companies they are part-owners of,
• their average Wall Street analyst consensus 12-month Price Targets,
• their consensus Buy/Hold/Sell ratings,
• their current Dividend Yield, and
• their projected Price/Earnings Ratios (FWD).

1. Molson Coors (TAP): UP 15.1% in April; UP 15.8% YTD
   • has a 57.5%/42.5% joint venture, called TRUSS, with Hexo Corp. (HEXO): DOWN 9.7% in April; UP 19.8% YTD.
   • 21 analysts:
     • have an average 12-month price target representing a 7.5% DECREASE from its current price,
     • have a consensus HOLD rating,
   • has a dividend yield of 2.6% and
   • has a projected price/earnings ratio (FWD) of 14.6
2. Imperial Brands (IMBBY): UP 7.6% in April; DOWN 0.3% YTD
   • has a 19.9% stake in Auxly Cannabis Group (CBWTF): No Change in April; No Change YTD.
   • 1 analyst:
     • has an average 12-month price target representing a 36.8% increase from its current price,
     • has a BUY rating,
   • has a dividend yield of 6.8% and
   • has a projected Price/Earnings Ratio (FWD) of 13.4
3. Altria Group (MO): UP 6.5% in April; UP 4.1% YTD 
   • has a 45% stake in Cronos Group (CRON), DOWN 3.6% in April; DOWN 25.8% YTD.
   • 17 analysts:
     • have an average 12-month price target representing an 4.8% increase from its current price,
     • have a consensus HOLD rating,
   • has a dividend yield of 7.9% and
   • has a projected price/earnings ratio (FWD) of 9.4
4. British American Tobacco (BTI): UP 5.5% in April; DOWN 7.2% YTD
   • has a C$221M investment and product development partnership with Organigram Holdings (OGI): DOWN 21.9% in April; DOWN 35.9% YTD.
   • has a $56.8 million investment in Charlotte’s Web Holdings (CWBHF), (UP 11.3% in April; DOWN 34.4% YTD), in the form of a convertible debenture which, if converted (at BTI's discretion), would equate to a 19.9% ownership position in the company,
   • 4 analysts:
     • have an average 12-month price target representing a 38.7% increase from its current price,
     • have a consensus BUY rating,
   • has a dividend yield of 7.2% and
   • has a projected price/earnings ratio (FWD) of 8.6
5. Constellation Brands (STZ): UP 1.6% in April; DOWN 0.6% YTD
   • has a 39% stake in Canopy Growth (CGC): DOWN 25.7% in April; DOWN 42.7% YTD.
   • 28 analysts:
     • have an average 12-month price target representing just a 11.3% increase from its current price,
     • have a consensus BUY rating,
   • has a dividend yield of 1.6% and
   • has a projected price/earnings ratio (FWD) of 19.4
6. Anheuser-Busch (BUD): DOWN 2.6% in April; UP 8.4% YTD
   • has a $100 million joint venture with Tilray (TLRY): DOWN 7.1% in April; DOWN 12.0% YTD.
   • 9 analysts:
     • have an average 12-month price target representing a 7.2% increase from its current price,
     • have a consensus BUY rating,
   • has a dividend yield of 1.6% and
   • has a projected price/earnings ratio (FWD) of 19.6

In summary, the munKNEE Conservative "Cannabis" Stocks Index:

• was UP 3.6% in April and is now UP 2.4% YTD,
• its constituents currently have an average dividend yield of 2.9% and
• the average 12-month price targets mentioned above represent a 11.2% increase from their current prices.

More By This Author:

April Psychedelic Drug Stocks Recap: The Ups And Downs
April Summary: Largest Plant-Based Food Stocks Decline
April Summary: Canadian Cannabis LPs Collapsed 12%