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Hedge Funds Like Molson Coors Brewing Company (TAP)’s Recipe for Success

As aggregate interest increased, specific money managers have jumped into Molson Coors Brewing Company (NYSE:TAP) headfirst. Lone Pine Capital, managed by Stephen Mandel, assembled the largest position in Molson Coors Brewing Company (NYSE:TAP). Lone Pine Capital had $161.4 million invested in the company at the end of the quarter. Alan Fournier’s Pennant Capital Management also made a $142.2 million investment in the stock during the quarter. The other funds with new positions in the stock are J Kevin Kenny Jr’s Emerging Sovereign Group, James Dinan’s York Capital Management, and Jeffrey Altman’s Owl Creek Asset Management.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Molson Coors Brewing Company (NYSE:TAP) but similarly valued. We will take a look at Nordstrom, Inc. (NYSE:JWN), WestRock Co (NYSE:WRK), Ingersoll-Rand PLC (NYSE:IR), and Parker-Hannifin Corporation (NYSE:PH). All of these stocks’ market caps are similar to Molson Coors Brewing Company’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
JWN 38 840884 11
WRK 42 1474208 41
IR 42 1439823 5
PH 25 847557 5

As you can see these stocks had an average of 36.75 hedge funds with bullish positions and the average amount invested in these stocks was $1.15 billion. That figure was $3.07 billion in Molson Coors Brewing Company’s case. WestRock Co (NYSE:WRK) is the most popular stock in this table. On the other hand Parker-Hannifin Corporation (NYSE:PH) is the least popular one with only 25 bullish hedge fund positions. Compared to these stocks Molson Coors Brewing Company (NYSE:TAP) is far more popular among hedge funds and has far more money invested in it. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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