Keybank National Association OH Sells 13,207 Shares of Molson Coors Beverage Company $TAP

Keybank National Association OH lessened its holdings in Molson Coors Beverage Company (NYSE:TAP) by 25.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,870 shares of the company’s stock after selling 13,207 shares during the quarter. Keybank National Association OH’s holdings in Molson Coors Beverage were worth $1,869,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in Molson Coors Beverage by 14.7% in the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after purchasing an additional 30,463 shares in the last quarter. Nuveen LLC acquired a new position in Molson Coors Beverage in the first quarter valued at about $22,253,000. Jump Financial LLC raised its stake in Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after purchasing an additional 16,349 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Molson Coors Beverage by 7.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after purchasing an additional 1,606 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Molson Coors Beverage by 32.8% in the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock valued at $28,424,000 after purchasing an additional 115,186 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 0.3%

Shares of NYSE TAP opened at $43.76 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.65 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 1.60 and a beta of 0.63. Molson Coors Beverage Company has a 12 month low of $42.94 and a 12 month high of $64.66. The stock has a 50-day moving average price of $47.10 and a two-hundred day moving average price of $50.51.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on TAP. Jefferies Financial Group dropped their price target on Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Wells Fargo & Company dropped their price target on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Piper Sandler lowered their target price on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Tuesday, September 30th. Evercore ISI lowered their target price on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein lowered their target price on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $56.62.

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.