IFM Investors Pty Ltd trimmed its position in shares of Molson Coors Beverage (NYSE:TAP – Free Report) by 30.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 35,106 shares of the company’s stock after selling 15,244 shares during the period. IFM Investors Pty Ltd’s holdings in Molson Coors Beverage were worth $2,019,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new position in Molson Coors Beverage during the second quarter worth $26,000. Altshuler Shaham Ltd bought a new position in Molson Coors Beverage during the second quarter worth $27,000. GPS Wealth Strategies Group LLC boosted its position in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the period. Crewe Advisors LLC bought a new position in Molson Coors Beverage during the first quarter worth $43,000. Finally, Quarry LP bought a new position in Molson Coors Beverage during the second quarter worth $54,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.
Molson Coors Beverage Stock Down 0.6 %
TAP stock opened at $55.77 on Monday. The company has a market cap of $11.82 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81. The business has a 50-day simple moving average of $55.08 and a 200 day simple moving average of $54.86. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.
Wall Street Analyst Weigh In
A number of research firms have commented on TAP. Bank of America reduced their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Jefferies Financial Group reduced their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. Citigroup reduced their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group boosted their target price 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. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $59.43.
Get Our Latest Research Report on Molson Coors Beverage
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.
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