Molson Coors Beverage (NYSE:TAP) Shares Sold by abrdn plc

abrdn plc reduced its stake in shares of Molson Coors Beverage (NYSE:TAP) by 0.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 816,902 shares of the company’s stock after selling 1,513 shares during the quarter. abrdn plc owned 0.39% of Molson Coors Beverage worth $46,412,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TAP. TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Piper Sandler upped their price objective on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Barclays increased 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. Bank of America cut their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. raised their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $59.43.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $55.49 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The company has a market cap 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 1 year low of $49.19 and a 1 year high of $69.18. The firm has a 50 day moving average price of $55.16 and a 200 day moving average price of $54.71.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping 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%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.78 EPS. Sell-side analysts predict that Molson Coors Beverage will post 5.74 earnings per share for the current year.

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.