Assenagon Asset Management S.A. Buys 6,113 Shares of Molson Coors Beverage (NYSE:TAP)

Assenagon Asset Management S.A. boosted its stake in Molson Coors Beverage (NYSE:TAP) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,316 shares of the company’s stock after acquiring an additional 6,113 shares during the period. Assenagon Asset Management S.A.’s holdings in Molson Coors Beverage were worth $3,239,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TAP. Perpetual Ltd raised its position in shares of Molson Coors Beverage by 1.0% in the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares in the last quarter. Empirical Finance LLC grew its position in shares of Molson Coors Beverage by 3.5% during the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after buying an additional 226 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Molson Coors Beverage by 1.6% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after acquiring an additional 231 shares in the last quarter. Affinity Investment Advisors LLC lifted its position in shares of Molson Coors Beverage by 2.9% during the 1st quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after acquiring an additional 246 shares during the period. Finally, Private Advisor Group LLC boosted its stake in Molson Coors Beverage by 0.8% during the first quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock worth $2,119,000 after acquiring an additional 250 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Down 0.5 %

NYSE TAP opened at $55.49 on Thursday. The business’s fifty day moving average is $55.16 and its 200-day moving average is $54.71. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The stock has a market capitalization of $11.76 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 2.35 and a beta of 0.81. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the firm posted $1.78 EPS. Molson Coors Beverage’s revenue was down .4% on a year-over-year basis. Equities research analysts predict that Molson Coors Beverage will post 5.74 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on TAP. Bank of America cut their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Barclays raised their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Citigroup reduced their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a report on Wednesday, July 10th. Finally, TD Cowen lowered their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $59.43.

Molson Coors Beverage Company 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.