Aviva PLC Has $32.98 Million Stock Position in Molson Coors Beverage Company $TAP

Aviva PLC grew its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 7.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 685,780 shares of the company’s stock after buying an additional 49,072 shares during the quarter. Aviva PLC’s holdings in Molson Coors Beverage were worth $32,979,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TAP. LSV Asset Management grew its position in Molson Coors Beverage by 1.4% during the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after acquiring an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC boosted its stake in shares of Molson Coors Beverage by 0.7% during the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock valued at $277,154,000 after purchasing an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Molson Coors Beverage by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Molson Coors Beverage by 24.2% in the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock valued at $170,265,000 after buying an additional 544,353 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after buying an additional 1,600,748 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TAP has been the topic of a number of research reports. UBS Group reduced their target price on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Wednesday, November 5th. JPMorgan Chase & Co. started coverage on shares of Molson Coors Beverage in a report on Wednesday, November 5th. They set a “neutral” rating and a $49.00 price target on the stock. Sanford C. Bernstein reduced their price objective on shares of Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler decreased their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Finally, Wells Fargo & Company cut their target price on Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $54.56.

Molson Coors Beverage Price Performance

TAP stock opened at $46.27 on Monday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company’s fifty day simple moving average is $46.47 and its 200 day simple moving average is $49.95. Molson Coors Beverage Company has a 12-month low of $42.94 and a 12-month high of $64.66. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director David S. Coors purchased 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average cost of $44.47 per share, with a total value of $99,835.15. Following the completion of the purchase, the director owned 30,586 shares in the company, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.71% of the company’s stock.

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.