Molson Coors Beverage (NYSE:TAP) Shares Bought by M&G Plc

M&G PLC boosted its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 18.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 324,093 shares of the company's stock after buying an additional 50,715 shares during the quarter. M&G PLC owned approximately 0.15% of Molson Coors Beverage worth $18,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Molson Coors Beverage by 11.6% during 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 purchasing an additional 7,557 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Molson Coors Beverage by 153.7% in the 1st quarter. Nordea Investment Management AB now owns 25,830 shares of the company's stock valued at $1,730,000 after acquiring an additional 15,648 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Molson Coors Beverage by 153.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 982 shares of the company's stock valued at $66,000 after acquiring an additional 595 shares during the period. Empirical Finance LLC raised its holdings in Molson Coors Beverage by 3.5% during the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company's stock valued at $455,000 after buying an additional 226 shares during the last quarter. Finally, AIA Group Ltd purchased a new position in Molson Coors Beverage during the 1st quarter valued at about $1,535,000. 78.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TAP has been the topic of several research analyst reports. Piper Sandler boosted their price target on shares of 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 lifted 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. Wells Fargo & Company upgraded Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price objective for the company from $52.00 to $74.00 in a research report on Friday. UBS Group lifted their price target 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. Finally, JPMorgan Chase & Co. increased their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $60.15.

Molson Coors Beverage Price Performance

TAP traded up $2.84 during trading hours on Friday, hitting $59.57. The company's stock had a trading volume of 3,632,570 shares, compared to its average volume of 1,910,381. The stock has a market cap of $12.34 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 2.43 and a beta of 0.82. The company has a current ratio of 0.95, a quick ratio of 0.75 and a debt-to-equity ratio of 0.46. The business's 50-day moving average price is $55.57 and its 200-day moving average price is $54.40. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.65 by $0.15. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. Molson Coors Beverage's quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.92 EPS. Sell-side analysts expect that Molson Coors Beverage will post 5.71 earnings per share for the current fiscal 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.