Metis Global Partners LLC Sells 1,096 Shares of Molson Coors Beverage Company $TAP

Metis Global Partners LLC reduced its position in Molson Coors Beverage Company (NYSE:TAP) by 6.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,141 shares of the company’s stock after selling 1,096 shares during the quarter. Metis Global Partners LLC’s holdings in Molson Coors Beverage were worth $728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its stake in Molson Coors Beverage by 16.8% in the first quarter. Envestnet Asset Management Inc. now owns 368,030 shares of the company’s stock valued at $22,402,000 after acquiring an additional 52,971 shares during the last quarter. Alps Advisors Inc. acquired a new stake in shares of Molson Coors Beverage in the 1st quarter valued at $368,000. Cerity Partners LLC increased its stake in shares of Molson Coors Beverage by 16.6% in the 1st quarter. Cerity Partners LLC now owns 113,845 shares of the company’s stock valued at $6,930,000 after purchasing an additional 16,243 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Molson Coors Beverage by 4.2% in the 1st quarter. New York State Common Retirement Fund now owns 87,316 shares of the company’s stock valued at $5,315,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Stephens Inc. AR raised its holdings in shares of Molson Coors Beverage by 2.0% during the 1st quarter. Stephens Inc. AR now owns 20,010 shares of the company’s stock worth $1,218,000 after buying an additional 400 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Insiders Place Their Bets

In related news, Director David S. Coors acquired 2,245 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the completion of the acquisition, the director directly owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TAP. Morgan Stanley reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company reduced their price target on shares of Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Piper Sandler decreased their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a report on Tuesday, September 30th. Needham & Company LLC dropped their price objective on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. Finally, UBS Group cut 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 research report on Wednesday, November 5th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $54.56.

Molson Coors Beverage Stock Up 0.7%

Shares of NYSE TAP opened at $47.16 on Wednesday. The company has a 50 day simple moving average of $46.34 and a 200 day simple moving average of $49.80. 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 1 year low of $42.94 and a 1 year high of $64.66. The firm has a market cap of $9.32 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65.

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

Molson Coors Beverage 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.