Meeder Asset Management Inc. Makes New Investment in Molson Coors Beverage (NYSE:TAP)

Meeder Asset Management Inc. bought a new position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 49,641 shares of the company's stock, valued at approximately $2,855,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock valued at $99,000 after buying an additional 182 shares during the period. Perpetual Ltd increased its stake in Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company's stock worth $1,182,000 after acquiring an additional 197 shares during the last quarter. SkyView Investment Advisors LLC raised its position in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company's stock valued at $768,000 after purchasing an additional 274 shares during the period. Private Advisor Group LLC lifted its stake in shares of Molson Coors Beverage by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company's stock valued at $1,845,000 after purchasing an additional 277 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of Molson Coors Beverage by 7.0% during the 3rd quarter. Focus Financial Network Inc. now owns 4,276 shares of the company's stock worth $246,000 after purchasing an additional 280 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on TAP shares. Barclays upped their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an "underweight" rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft increased 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 report on Wednesday, August 7th. Piper Sandler lifted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. Wells Fargo & Company upgraded Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, UBS Group lifted their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus target price of $60.31.

Molson Coors Beverage Stock Down 1.7 %

Shares of TAP traded down $1.07 during midday trading on Tuesday, hitting $60.80. The company had a trading volume of 1,740,617 shares, compared to its average volume of 1,917,930. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm has a market capitalization of $12.53 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.42 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company's 50-day simple moving average is $56.47 and its 200-day simple moving average is $54.37.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter last year, the company earned $1.92 earnings per share. The firm's revenue was down 7.8% compared to the same quarter last year. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.78 EPS for the current year.

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.