New York State Teachers Retirement System Has $9.42 Million Stake in Molson Coors Beverage (NYSE:TAP)

New York State Teachers Retirement System trimmed its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 9.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 163,820 shares of the company's stock after selling 17,247 shares during the period. New York State Teachers Retirement System owned approximately 0.08% of Molson Coors Beverage worth $9,423,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Pathway Financial Advisers LLC acquired a new stake in Molson Coors Beverage during the third quarter valued at approximately $91,000. Boston Financial Mangement LLC lifted its position in shares of Molson Coors Beverage by 4.4% during the 3rd quarter. Boston Financial Mangement LLC now owns 19,536 shares of the company's stock worth $1,124,000 after buying an additional 827 shares during the period. Pallas Capital Advisors LLC boosted its stake in Molson Coors Beverage by 50.8% in the 3rd quarter. Pallas Capital Advisors LLC now owns 16,818 shares of the company's stock valued at $943,000 after buying an additional 5,665 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Molson Coors Beverage by 5.3% in the third quarter. DekaBank Deutsche Girozentrale now owns 111,816 shares of the company's stock valued at $6,321,000 after acquiring an additional 5,661 shares during the period. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Molson Coors Beverage by 102.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 35,009 shares of the company's stock worth $2,014,000 after acquiring an additional 17,679 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 1.3 %

NYSE:TAP traded up $0.71 during mid-day trading on Monday, hitting $55.71. The company had a trading volume of 1,616,628 shares, compared to its average volume of 1,893,496. The firm has a market cap of $11.54 billion, a P/E ratio of 10.19, a P/E/G ratio of 2.37 and a beta of 0.82. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The business's fifty day moving average is $55.25 and its two-hundred day moving average is $54.52. 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 quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. Molson Coors Beverage's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. As a group, research analysts expect that Molson Coors Beverage will post 5.71 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on TAP. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. TD Cowen reduced their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, October 8th. Citigroup dropped their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a "sell" rating for the company in a report on Wednesday, July 10th. UBS Group lifted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Finally, Piper Sandler increased their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of "Hold" and an average target price of $59.43.

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.