Pacer Advisors Inc. Sells 209,476 Shares of Molson Coors Beverage (NYSE:TAP)

Pacer Advisors Inc. cut its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,187,747 shares of the company's stock after selling 209,476 shares during the period. Pacer Advisors Inc. owned 2.50% of Molson Coors Beverage worth $298,399,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC lifted its stake in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company's stock valued at $99,000 after buying an additional 182 shares during the period. Integrated Investment Consultants LLC raised its holdings in Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company's stock valued at $239,000 after acquiring an additional 185 shares during the last quarter. Perpetual Ltd lifted its stake in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company's stock worth $1,182,000 after purchasing an additional 197 shares during the period. SkyView Investment Advisors LLC boosted its holdings in shares of Molson Coors Beverage by 1.8% during the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company's stock worth $768,000 after purchasing an additional 274 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company's stock valued at $1,845,000 after purchasing an additional 277 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the subject of several research analyst reports. Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Barclays lifted their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an "underweight" rating in a research report on Monday, November 11th. Piper Sandler increased their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Finally, TD Cowen reduced their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $60.31.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.09 during mid-day trading on Thursday, reaching $60.47. The company had a trading volume of 1,213,536 shares, compared to its average volume of 1,913,811. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock has a market cap of $12.46 billion, a PE ratio of 13.62, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average price of $56.73 and a two-hundred day moving average price of $54.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the company earned $1.92 EPS. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current 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.