Villanova Investment Management Co bought a new stake in Molson Coors Beverage Company (NYSE:TAP – Free Report) in the third quarter, HoldingsChannel.com reports. The firm bought 14,130 shares of the company’s stock, valued at approximately $515,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Kestra Private Wealth Services LLC raised its position in Molson Coors Beverage by 9.4% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 42,102 shares of the company’s stock valued at $1,535,000 after purchasing an additional 3,612 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Molson Coors Beverage by 81.3% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 35,800 shares of the company’s stock valued at $1,306,000 after buying an additional 16,058 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Molson Coors Beverage in the 3rd quarter valued at about $123,000. Aviance Capital Partners LLC grew its position in shares of Molson Coors Beverage by 3.6% during the third quarter. Aviance Capital Partners LLC now owns 41,113 shares of the company’s stock worth $1,499,000 after buying an additional 1,445 shares in the last quarter. Finally, Vise Technologies Inc. grew its position in shares of Molson Coors Beverage by 35.6% during the third quarter. Vise Technologies Inc. now owns 9,456 shares of the company’s stock worth $345,000 after buying an additional 2,484 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.
Molson Coors Beverage Stock Down 2.1%
Shares of NYSE TAP opened at $42.25 on Friday. The stock has a market cap of $8.85 billion, a PE ratio of -3.66 and a beta of 0.45. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. Molson Coors Beverage Company has a 52-week low of $35.52 and a 52-week high of $54.82. The business has a 50-day moving average price of $38.98 and a 200 day moving average price of $42.36.
Molson Coors Beverage (NYSE:TAP – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.02. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.94 billion. Molson Coors Beverage had a positive return on equity of 9.46% and a negative net margin of 17.83%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.67 EPS. Equities research analysts forecast that Molson Coors Beverage Company will post 4.77 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on TAP. Piper Sandler cut their target price on shares of Molson Coors Beverage from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Barclays decreased their price target on shares of Molson Coors Beverage from $41.00 to $36.00 and set an “underweight” rating for the company in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, July 22nd. Citigroup lowered their price target on shares of Molson Coors Beverage from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 14th. Finally, Wells Fargo & Company dropped their price objective on shares of Molson Coors Beverage from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, October 5th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $43.06.
Read Our Latest Analysis on TAP
Molson Coors Beverage Company Profile
Molson Coors Beverage Company is a global beverage company best known for brewing and marketing beer. Its portfolio includes widely recognized brands such as Coors, Coors Light, Miller Lite, Miller High Life, Molson Canadian, Carling, Blue Moon, Staropramen and Peroni Nastro Azzurro, along with hard seltzers, flavored alcoholic beverages and other adjacent products.
The company serves consumers through a broad network of breweries, distributors and retailers across North America, Europe and other international markets.
Featured Stories
- Five stocks we like better than Molson Coors Beverage
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Beverage Company (NYSE:TAP – Free Report).
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.
