AustralianSuper Pty Ltd Boosts Stake in Molson Coors Beverage (NYSE:TAP)

AustralianSuper Pty Ltd boosted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 149.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 376,424 shares of the company's stock after buying an additional 225,296 shares during the period. AustralianSuper Pty Ltd owned 0.18% of Molson Coors Beverage worth $21,652,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew 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 purchasing an additional 15,648 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of Molson Coors Beverage by 117.5% in the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company's stock valued at $2,124,000 after purchasing an additional 17,062 shares during the last quarter. Wakefield Asset Management LLLP grew its stake in shares of Molson Coors Beverage by 124.5% in the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company's stock valued at $2,709,000 after purchasing an additional 29,552 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Molson Coors Beverage by 220.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company's stock valued at $32,910,000 after purchasing an additional 336,496 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $3,842,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Molson Coors Beverage Trading Down 1.8 %

Molson Coors Beverage stock traded down $1.00 during trading on Thursday, hitting $54.48. The company's stock had a trading volume of 1,203,167 shares, compared to its average volume of 1,895,552. The stock has a market capitalization of $11.29 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 2.35 and a beta of 0.81. The stock's fifty day moving average is $55.21 and its 200 day moving average is $54.71. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage will post 5.74 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TAP. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. Citigroup decreased their price target on Molson Coors Beverage from $53.00 to $47.00 and set a "sell" rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Jefferies Financial Group decreased their price target on Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating on the stock in a research note on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an "underweight" rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus target price of $59.43.

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.