Molson Coors Beverage (NYSE:TAP) Stock Holdings Raised by Private Management Group Inc.

Private Management Group Inc. lifted its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 5.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 557,742 shares of the company's stock after purchasing an additional 29,294 shares during the quarter. Molson Coors Beverage comprises about 1.1% of Private Management Group Inc.'s investment portfolio, making the stock its 26th largest position. Private Management Group Inc. owned approximately 0.26% of Molson Coors Beverage worth $32,081,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in TAP. Farther Finance Advisors LLC boosted its position in Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock worth $99,000 after purchasing an additional 182 shares in the last quarter. Perpetual Ltd boosted its position in shares of Molson Coors Beverage by 1.0% in the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company's stock worth $1,182,000 after buying an additional 197 shares in the last quarter. Empirical Finance LLC grew its stake in Molson Coors Beverage by 3.5% in the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company's stock valued at $455,000 after acquiring an additional 226 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in Molson Coors Beverage by 1.6% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company's stock valued at $1,000,000 after acquiring an additional 231 shares in the last quarter. Finally, Affinity Investment Advisors LLC raised its position in Molson Coors Beverage by 2.9% during the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company's stock worth $579,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 1.0 %

Molson Coors Beverage stock traded up $0.53 during midday trading on Friday, hitting $55.00. 1,736,545 shares of the stock were exchanged, compared to its average volume of 1,894,801. 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 current ratio of 0.95 and a quick ratio of 0.75. The firm has a market cap of $11.39 billion, a P/E ratio of 10.07, a P/E/G ratio of 2.42 and a beta of 0.81. The company has a 50 day moving average price of $55.25 and a two-hundred day moving average price of $54.64.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The business had revenue of $3.25 billion for the quarter, compared to analysts' expectations of $3.18 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company's revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Molson Coors Beverage will post 5.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on TAP shares. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Barclays upped their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an "underweight" rating in a research note on Thursday, August 8th. Piper Sandler lifted their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the company a "neutral" rating in a report on Wednesday, August 7th. TD Cowen cut their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, October 8th. Finally, Jefferies Financial Group decreased their target price on Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating for the company in a report on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $59.43.

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.