Beer Stocks Pull Back from 52-Week Highs (TAP, BUD, ABV, SAM, CCU, FMX)

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Beer stocks have pulled back in the past few days, several of them from at or near 52-week highs. It would be easy to point to Tuesday's disappointing first-quarter results from Molson Coors
TAP
, blamed on rising costs and flat sales. But others, including Anheuser-Busch InBev
BUD
, have also reported underwhelming sales, especially in major markets Brazil and the United States. Molson Coors has seen the biggest drop though—nearly 10% since April 28. SABMiller (
SBMRY
) also announced Wednesday the retirement of its chief financial officer. Its share price is down more than 3% since April 29. Heineken (
HINKY
), however, hasn't yet seen much of a pullback; the stock was down less than 2% on Thursday. Heineken announced this week that it would acquire two Ethiopian breweries. Like other brewers, Heineken has seen strong growth in Africa. Other beer stocks that have seen a recent pullback include AmBev
ABV
, Boston Beer
SAM
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, Compania Cervecerias Unidas
CCU
and Fomento Economico Mexicano
FMX
. While the share prices of Boston Beer and Molson Coors have fallen in the past three months, shares of Anheuser-Busch, Compania Cervecerias Unidas, Fomento Economico Mexicano, Heineken and SABMiller are up between 7% and 16% in that time, outperforming the broader market.
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Posted In: Long IdeasNewsShort IdeasTrading IdeasAmBevAnheuser-BuschAnheuser-Busch InBevboston beerBrewersCompania Cervecerias UnidasConsumer StaplesFomento Economico MexicanoHeinekenmolson coorsSABMillerSoft Drinks
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