Molson Coors Beverage Company $TAP Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its holdings in Molson Coors Beverage Company (NYSE:TAP) by 5.4% during the second quarter, HoldingsChannel reports. The fund owned 111,816 shares of the company’s stock after buying an additional 5,750 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Molson Coors Beverage were worth $5,282,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Twin Capital Management Inc. lifted its holdings in Molson Coors Beverage by 0.7% in the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock valued at $1,509,000 after acquiring an additional 180 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares during the last quarter. Signet Financial Management LLC lifted its stake in Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock worth $277,000 after purchasing an additional 208 shares in the last quarter. Callan Family Office LLC lifted its stake in Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after purchasing an additional 209 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its stake in Molson Coors Beverage by 1.1% during the second quarter. Yousif Capital Management LLC now owns 19,531 shares of the company’s stock worth $939,000 after purchasing an additional 222 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on TAP shares. Wells Fargo & Company decreased their price target on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Jefferies Financial Group decreased their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating on the stock in a research note on Tuesday, September 30th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Molson Coors Beverage in a research note on Tuesday, October 14th. Finally, JPMorgan Chase & Co. reduced their price objective on 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 equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.62.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $45.43 on Friday. The firm has a market capitalization of $8.98 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 1.67 and a beta of 0.63. The business’s fifty day moving average price is $47.84 and its 200 day moving average price is $51.18. 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 12 month low of $43.80 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.Molson Coors Beverage’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter 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. On average, sell-side analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Company Profile

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.