Vanguard Group Inc. grew its position in shares of Molson Coors Beverage (NYSE:TAP) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,742,326 shares of the company’s stock after acquiring an additional 300,512 shares during the quarter. Vanguard Group Inc. owned about 9.10% of Molson Coors Beverage worth $1,059,965,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. raised its holdings in Molson Coors Beverage by 19.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 247,248 shares of the company’s stock worth $14,749,000 after buying an additional 41,054 shares during the period. Teacher Retirement System of Texas increased its holdings in Molson Coors Beverage by 22.2% in the first quarter. Teacher Retirement System of Texas now owns 21,298 shares of the company’s stock worth $1,089,000 after buying an additional 3,875 shares during the last quarter. Sei Investments Co. increased its holdings in Molson Coors Beverage by 15.8% in the first quarter. Sei Investments Co. now owns 277,972 shares of the company’s stock worth $14,179,000 after buying an additional 38,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Molson Coors Beverage by 50.1% in the first quarter. JPMorgan Chase & Co. now owns 649,017 shares of the company’s stock worth $33,198,000 after buying an additional 216,533 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Molson Coors Beverage by 2.6% during the first quarter. Geode Capital Management LLC now owns 3,459,935 shares of the company’s stock worth $176,541,000 after purchasing an additional 87,918 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on TAP. Jefferies Financial Group started coverage on Molson Coors Beverage in a research report on Friday, July 16th. They issued a “buy” rating and a $70.00 price objective for the company. Wells Fargo & Company dropped their price objective on Molson Coors Beverage from $56.00 to $53.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 28th. Finally, Barclays lowered their target price on Molson Coors Beverage from $53.00 to $48.00 and set an “equal weight” rating for the company in a research note on Thursday, September 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.73.
Shares of TAP stock opened at $45.79 on Thursday. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of -17.89, a PEG ratio of 1.96 and a beta of 1.10. The stock has a 50-day moving average of $47.47 and a 200-day moving average of $52.00. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51. Molson Coors Beverage has a 1-year low of $32.54 and a 1-year high of $61.48.
Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Wednesday, July 28th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.34 by $0.24. The company had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.88 billion. Molson Coors Beverage had a positive return on equity of 5.97% and a negative net margin of 4.63%. Sell-side analysts forecast that Molson Coors Beverage will post 3.92 earnings per share for the current year.
Molson Coors Beverage Profile
Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: North America and Europe. The North America segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The Europe segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K., various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.
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