River Road Asset Management LLC Increases Stock Holdings in Molson Coors Beverage (NYSE:TAP)

River Road Asset Management LLC lifted its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 1.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,677,241 shares of the company's stock after buying an additional 29,315 shares during the quarter. Molson Coors Beverage makes up 1.3% of River Road Asset Management LLC's holdings, making the stock its 22nd largest position. River Road Asset Management LLC owned about 0.79% of Molson Coors Beverage worth $96,475,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage during the 2nd quarter worth approximately $26,000. Altshuler Shaham Ltd acquired a new stake in Molson Coors Beverage during the second quarter valued at $27,000. GPS Wealth Strategies Group LLC grew its position in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock valued at $33,000 after buying an additional 294 shares during the period. Crewe Advisors LLC purchased a new position in Molson Coors Beverage in the first quarter valued at $43,000. Finally, Quarry LP acquired a new position in shares of Molson Coors Beverage in the second quarter worth about $54,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on TAP. UBS Group raised their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a "hold" rating in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an "underweight" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Jefferies Financial Group reduced their price target on shares of Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating for the company in a research report on Thursday, July 18th. Three equities 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 company's stock. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus target price of $59.43.

Molson Coors Beverage Trading Up 0.5 %

Shares of NYSE TAP traded up $0.27 during trading on Tuesday, hitting $55.98. 1,377,976 shares of the company were exchanged, compared to its average volume of 1,891,088. 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 has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a fifty day moving average price of $55.28 and a 200-day moving average price of $54.46. The firm has a market capitalization of $11.60 billion, a PE ratio of 10.20, a P/E/G ratio of 2.39 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. The company 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 revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $1.78 EPS. As a group, equities research analysts expect that Molson Coors Beverage will post 5.71 EPS for the current year.

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.