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

M&G PLC boosted its position in Molson Coors Beverage Company (NYSE:TAP) by 5.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 484,533 shares of the company’s stock after purchasing an additional 23,852 shares during the period. M&G PLC owned about 0.23% of Molson Coors Beverage worth $17,443,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Procyon Advisors LLC lifted its position in shares of Molson Coors Beverage by 4.9% during the 1st quarter. Procyon Advisors LLC now owns 7,730 shares of the company’s stock worth $333,000 after buying an additional 358 shares in the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 8,113 shares of the company’s stock worth $301,000 after buying an additional 362 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Molson Coors Beverage by 6.8% in the third quarter. Parallel Advisors LLC now owns 6,017 shares of the company’s stock valued at $219,000 after acquiring an additional 385 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in shares of Molson Coors Beverage by 5.0% in the first quarter. Chicago Partners Investment Group LLC now owns 9,199 shares of the company’s stock valued at $393,000 after acquiring an additional 436 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Molson Coors Beverage by 39.5% in the first quarter. EverSource Wealth Advisors LLC now owns 1,540 shares of the company’s stock valued at $66,000 after acquiring an additional 436 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $39.89 on Wednesday. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 8.49 and a beta of 0.45. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.60 and a current ratio of 0.86. Molson Coors Beverage Company has a 52 week low of $35.52 and a 52 week high of $54.82. The firm’s 50-day simple moving average is $38.92 and its two-hundred day simple moving average is $42.20.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 5th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. Molson Coors Beverage had a net margin of 6.95% and a return on equity of 8.92%. The firm had revenue of $2.93 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the company earned $1.67 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Beverage Company will post 4.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft set a $41.00 price target on Molson Coors Beverage in a research report on Wednesday, July 22nd. Piper Sandler cut their price objective on Molson Coors Beverage from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Friday, November 6th. Needham & Company LLC cut their price objective 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. Morgan Stanley reduced their price objective on Molson Coors Beverage from $46.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Weiss Ratings upgraded Molson Coors Beverage from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, Molson Coors Beverage has an average rating of “Reduce” and a consensus target price of $42.41.

Molson Coors Beverage Company Profile

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.