Commerzbank Aktiengesellschaft FI Has $718,000 Stake in Molson Coors Beverage (NYSE:TAP)

Commerzbank Aktiengesellschaft FI trimmed its holdings in Molson Coors Beverage (NYSE:TAP) by 13.2% in the third quarter, Holdings Channel reports. The institutional investor owned 12,469 shares of the company’s stock after selling 1,896 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Molson Coors Beverage were worth $718,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage in the second quarter valued at approximately $26,000. Altshuler Shaham Ltd acquired a new stake in shares of Molson Coors Beverage in the second quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its position in shares of Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after buying an additional 294 shares in the last quarter. Crewe Advisors LLC acquired a new position in Molson Coors Beverage during the first quarter valued at approximately $43,000. Finally, Quarry LP acquired a new position in Molson Coors Beverage during the second quarter valued at approximately $54,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on TAP shares. Barclays boosted their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Wells Fargo & Company boosted their price objective on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Finally, Citigroup decreased their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $59.43.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $56.04 on Thursday. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a fifty day simple moving average of $54.99 and a 200 day simple moving average of $55.11. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 earnings per share. Sell-side analysts expect that Molson Coors Beverage will post 5.74 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.