Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.03 Million Position in Molson Coors Beverage Company $TAP

Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,166 shares of the company’s stock after purchasing an additional 7,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Molson Coors Beverage were worth $2,028,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TAP. Ameriprise Financial Inc. raised its stake in Molson Coors Beverage by 414.3% during the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after purchasing an additional 1,600,748 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at $38,377,000. Dimensional Fund Advisors LP raised its stake in Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after purchasing an additional 750,388 shares during the period. Bank of New York Mellon Corp raised its stake in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after purchasing an additional 595,203 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in Molson Coors Beverage by 72.4% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock valued at $84,024,000 after purchasing an additional 579,649 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TAP. UBS Group cut their target price on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Molson Coors Beverage in a research note on Tuesday, October 14th. The Goldman Sachs Group dropped their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, October 2nd. Evercore ISI dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating on the stock in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.62.

Molson Coors Beverage Trading Up 0.3%

Shares of NYSE:TAP opened at $43.76 on Friday. The stock has a market capitalization of $8.65 billion, a PE ratio of 8.63, a P/E/G ratio of 1.60 and a beta of 0.63. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The firm has a fifty day moving average price of $47.10 and a 200 day moving average price of $50.57. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.