Stephens Inc. AR Boosts Holdings in Molson Coors Beverage (NYSE:TAP)

Stephens Inc. AR raised its stake in Molson Coors Beverage (NYSE:TAP) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,240 shares of the company’s stock after purchasing an additional 2,300 shares during the period. Stephens Inc. AR’s holdings in Molson Coors Beverage were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Advisor Group LLC boosted its holdings in shares of Molson Coors Beverage by 0.8% in the 1st quarter. Private Advisor Group LLC now owns 31,508 shares of the company’s stock valued at $2,119,000 after buying an additional 250 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Molson Coors Beverage by 11.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,855 shares of the company’s stock valued at $4,899,000 after acquiring an additional 7,557 shares during the period. Nordea Investment Management AB raised its holdings in shares of Molson Coors Beverage by 153.7% in the first quarter. Nordea Investment Management AB now owns 25,830 shares of the company’s stock valued at $1,730,000 after buying an additional 15,648 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Molson Coors Beverage by 32.9% during the first quarter. Daiwa Securities Group Inc. now owns 25,962 shares of the company’s stock worth $1,746,000 after buying an additional 6,433 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Molson Coors Beverage during the first quarter worth about $498,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Analyst Ratings Changes

TAP has been the subject of a number of recent research reports. Bank of America decreased their price objective on 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. 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 report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barclays raised their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Finally, Piper Sandler boosted their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $59.43.

Molson Coors Beverage Price Performance

TAP stock opened at $55.71 on Tuesday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 2.37 and a beta of 0.82. 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 has a 52-week low of $49.19 and a 52-week high of $69.18. The stock’s fifty day simple moving average is $55.25 and its 200-day simple moving average is $54.52.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the company posted $1.78 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts expect that Molson Coors Beverage will post 5.71 EPS for the current year.

About Molson Coors Beverage

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.