Molson Coors Beverage Company $TAP Holdings Boosted by M&G PLC

M&G PLC raised its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 5.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 484,533 shares of the company’s stock after buying an additional 23,852 shares during the quarter. M&G PLC’s holdings in Molson Coors Beverage were worth $17,443,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. SBI Securities Co. Ltd. raised its position in shares of Molson Coors Beverage by 84.7% in the third quarter. SBI Securities Co. Ltd. now owns 992 shares of the company’s stock worth $36,000 after buying an additional 455 shares in the last quarter. CX Institutional increased its holdings in shares of Molson Coors Beverage by 496.8% in the 2nd quarter. CX Institutional now owns 1,325 shares of the company’s stock worth $52,000 after buying an additional 1,103 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Molson Coors Beverage by 39.5% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,540 shares of the company’s stock worth $66,000 after buying an additional 436 shares during the last quarter. Root Financial Partners LLC purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at $86,000. Finally, Signaturefd LLC raised its position in shares of Molson Coors Beverage by 71.0% during the 3rd quarter. Signaturefd LLC now owns 2,430 shares of the company’s stock valued at $89,000 after buying an additional 1,009 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Up 0.1%

TAP opened at $39.89 on Wednesday. The company has a market cap of $8.36 billion, a P/E ratio of 8.49 and a beta of 0.45. The business’s 50-day moving average price is $38.92 and its 200-day moving average price is $42.20. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.54. Molson Coors Beverage Company has a 12 month low of $35.52 and a 12 month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 5th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.02. Molson Coors Beverage had a return on equity of 8.92% and a net margin of 6.95%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the prior year, the business posted $1.67 EPS. Molson Coors Beverage’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that Molson Coors Beverage Company will post 4.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TAP. BNP Paribas Exane dropped their price objective on shares of Molson Coors Beverage from $34.00 to $33.00 and set an “underperform” rating for the company in a report on Friday, September 18th. Needham & Company LLC lowered their price target on Molson Coors Beverage from $50.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Citigroup lowered their price target on Molson Coors Beverage from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. TD Cowen dropped their price target on Molson Coors Beverage from $43.00 to $37.00 and set a “hold” rating for the company in a research note on Tuesday, October 13th. Finally, Barclays upped their price objective on Molson Coors Beverage from $36.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and seven have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $42.41.

About Molson Coors Beverage

Molson Coors Beverage Company is a global brewer and beverage company with roots in the 18th-century Molson brewery in Canada and the 19th-century Coors brewery in Colorado. The businesses combined in 2005, and the company is headquartered in Chicago and Montreal. Its portfolio includes beer brands such as Coors Light, Miller Lite, Molson Canadian, Coors Banquet and Blue Moon, as well as other alcoholic and nonalcoholic beverages. The company brews, markets and distributes its products through its own operations and partner arrangements.