Forsta AP Fonden Buys 45,800 Shares of Molson Coors Beverage (NYSE:TAP)

Forsta AP Fonden boosted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 35.7% during the third quarter, Holdings Channel reports. The firm owned 174,000 shares of the company’s stock after purchasing an additional 45,800 shares during the quarter. Forsta AP Fonden’s holdings in Molson Coors Beverage were worth $10,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after acquiring an additional 2,155,842 shares during the last quarter. Capital International Investors boosted its holdings in shares of Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares during the last quarter. Ilex Capital Partners UK LLP bought a new stake in Molson Coors Beverage during the first quarter valued at approximately $53,096,000. Millennium Management LLC increased its holdings in Molson Coors Beverage by 541.4% during the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after buying an additional 645,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent research reports. Citigroup decreased their target price on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Piper Sandler raised their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. UBS Group increased their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group dropped their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Finally, Barclays raised their price target on Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $59.43.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $55.77 on Monday. The firm has a fifty day simple moving average of $55.08 and a two-hundred day simple moving average of $54.86. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.82 billion, a P/E ratio of 11.15, a PEG ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued 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 company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.78 earnings per share. On average, analysts expect that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

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.