5 Stocks Michael Burry Is Selling

2. Molson Coors Beverage Company (NYSE: TAP)

Number of Hedge Fund Holders: 34   

Molson Coors Beverage Company (NYSE: TAP) stock has offered investors returns exceeding 52% over the course of the past year. The company makes and sells beers and other beverages. It is placed second on our list of 10 stocks Michael Burry is selling. Burry has sold his entire stake in the firm, but on May 25, investment advisory Bernstein initiated coverage on the stock with an Outperform rating and a price target of $74, implying an upside potential of 28%. Trevor Stirling, an analyst at the firm, said that strong growth was expected for beer brands in super-premium domestic beer.

The Molson Coors Beverage Company (NYSE: TAP) posted earnings for the first quarter of 2021 on April 29, reporting earnings per share of $0.01, beating market predictions by $0.11. The revenue over the period was close to $2 billion, beating market predictions by $30 million. 

At the end of the first quarter of 2021, 34 hedge funds in the database of Insider Monkey held stakes worth $341 million in Molson Coors Beverage Company (NYSE: TAP), down from 39 in the preceding quarter worth $386 million.