18 Best 52-Week Low Stocks to Buy Now According to Short Sellers

13. Molson Coors Beverage Company (NYSE:TAP)

52 Week Range: $49.19 – $69.18

Current Share Price: $53.55

Number of Hedge Fund Holders: 34

Short interest rate: 3.82%

Molson Coors Beverage Company (NYSE:TAP) is a consumer defensive company that manufactures, markets, and sells beers and other malt beverage products.  It produces many beloved and iconic beer brands, including Coors Light, Miller Lite, Madri, Staropramen, Miller High Life Keystone, and more.

While Molson Coors Beverage Company (NYSE:TAP) is trading near its 52-week lows, it delivered solid second-quarter financial results with increased net pricing and positive sales. The beverage giant reported second-quarter net sales of $3.25 billion, which was a minor decrease compared to the previous year but still significantly higher than the $3.19 billion average prediction made by Visible Alpha. The adjusted diluted earnings per share (EPS) increased by nearly 8% year-over-year to $1.92, surpassing the expectations of analysts who had predicted $1.71.

Molson Coors Beverage Company (NYSE:TAP) reported that its latest quarterly earnings showed a downturn due to unfavorable effects from foreign currencies and a drop in the number of contract brewing deals, with one such deal scheduled to conclude by the year’s end. Nonetheless, Molson Coors mentioned that its present approach offers the ability to adjust to changing circumstances in its various markets.

Molson Coors Beverage Company (NYSE:TAP) emphasized that the robust outcomes indicate advancement in the company’s strategic efforts and the implementation of its “Acceleration Plan. Initiated in October 2023.  The company’s Acceleration Plan focuses on increasing income from its main brands and seeks to “proactively elevate its portfolio.

As one of the best 52-week low stocks to buy now, according to short sellers, Molson Coors Beverage Company (NYSE:TAP) trades at a  price-to-earnings multiple of 9, much lower than the industry average of 24. In addition, the stock offers an annual dividend of 3.27%, which is ideal for generating passive income from dividend payments. The number of shares outstanding short as of the end of July stood at 3.82%.

For their Q2 2024 shareholdings, 34 out of the 912 hedge funds surveyed by Insider Monkey had bought and owned Molson Coors Beverage Company (NYSE:TAP)’s shares. Cliff Asness’ AQR Capital Management was the largest shareholder due to its $241.39 million investment.