Ranmore Fund Management Ltd Grows Stock Holdings in Molson Coors Beverage Company $TAP

Ranmore Fund Management Ltd grew its position in Molson Coors Beverage Company (NYSE:TAP) by 97.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 415,341 shares of the company’s stock after purchasing an additional 205,000 shares during the quarter. Molson Coors Beverage comprises approximately 8.0% of Ranmore Fund Management Ltd’s investment portfolio, making the stock its 8th biggest position. Ranmore Fund Management Ltd’s holdings in Molson Coors Beverage were worth $19,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TAP. Ameriprise Financial Inc. increased its stake in shares of Molson Coors Beverage by 414.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after purchasing an additional 1,600,748 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $38,377,000. Dimensional Fund Advisors LP grew its holdings in shares of Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its stake in Molson Coors Beverage by 72.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock valued at $84,024,000 after purchasing an additional 579,649 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Molson Coors Beverage by 24.2% during the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock worth $170,265,000 after purchasing an additional 544,353 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Up 0.7%

TAP stock opened at $47.16 on Wednesday. The stock’s 50 day simple moving average is $46.34 and its 200 day simple moving average is $49.80. The company has a market cap of $9.32 billion, a P/E ratio of 9.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. Molson Coors Beverage Company has a fifty-two week low of $42.94 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, research analysts expect that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TAP. Barclays decreased their price target on shares of Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating for the company in a research report on Thursday, November 6th. Sanford C. Bernstein decreased their price target on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. Morgan Stanley lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a research note on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their target price 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. Six analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $54.56.

Insider Buying and Selling

In related news, Director David S. Coors acquired 2,245 shares of the stock in a transaction dated Wednesday, November 5th. The stock was 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 directly owned 30,586 shares in the company, valued at $1,360,159.42. This trade represents a 7.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.71% of the company’s stock.

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.