Farther Finance Advisors LLC Raises Position in Molson Coors Beverage (NYSE:TAP)

Farther Finance Advisors LLC increased its holdings in Molson Coors Beverage (NYSE:TAP) by 11.8% during the third quarter, Holdings Channel.com reports. The firm owned 1,720 shares of the company’s stock after acquiring an additional 182 shares during the quarter. Farther Finance Advisors LLC’s holdings in Molson Coors Beverage were worth $99,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after acquiring an additional 2,155,842 shares in the last quarter. Capital International Investors boosted its stake in Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after acquiring an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP bought a new stake in Molson Coors Beverage during the first quarter worth about $53,096,000. Millennium Management LLC boosted its stake in Molson Coors Beverage by 541.4% during the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after acquiring an additional 645,847 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Up 1.6 %

Shares of TAP stock opened at $60.50 on Tuesday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a market cap of $12.53 billion, a P/E ratio of 13.63, a P/E/G ratio of 2.60 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The company has a 50 day simple moving average of $55.70 and a two-hundred day simple moving average of $54.25.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.92 earnings per share. On average, research analysts expect that Molson Coors Beverage will post 5.74 earnings per share for the current year.

Analyst Upgrades and Downgrades

TAP has been the topic of several research reports. TD Cowen dropped their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Barclays upped their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, Piper Sandler upped their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $60.31.

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.