New York State Teachers Retirement System Has $8.48 Million Position in Molson Coors Beverage Company $TAP

New York State Teachers Retirement System grew its position in Molson Coors Beverage Company (NYSE:TAP) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,382 shares of the company’s stock after buying an additional 6,973 shares during the quarter. New York State Teachers Retirement System owned 0.09% of Molson Coors Beverage worth $8,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Golden State Wealth Management LLC increased its position in Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC increased its position in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Elequin Capital LP acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $30,000. Eastern Bank acquired a new position in Molson Coors Beverage during the 1st quarter worth approximately $33,000. Finally, Geneos Wealth Management Inc. increased its position in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.8%

TAP opened at $47.43 on Monday. The company’s 50 day moving average price is $48.34 and its two-hundred day moving average price is $51.54. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage Company has a fifty-two week low of $43.80 and a fifty-two week high of $64.66. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 1.73 and a beta of 0.63.

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

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TAP. The Goldman Sachs Group lowered their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Bank of America cut shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $65.00 to $50.00 in a research report on Friday, June 27th. Wells Fargo & Company lowered their price objective on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Barclays reissued an “underweight” rating and set a $50.00 target price (up from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Finally, Morgan Stanley reduced their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $56.62.

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.