5,000 Shares in Molson Coors Beverage Company $TAP Bought by FNY Investment Advisers LLC

FNY Investment Advisers LLC purchased a new position in Molson Coors Beverage Company (NYSE:TAP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,000 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. LSV Asset Management increased its stake in shares of Molson Coors Beverage by 1.4% in the first quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after buying an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Molson Coors Beverage by 0.7% in the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock worth $277,154,000 after buying an additional 33,535 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after buying an additional 750,388 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock worth $251,442,000 after buying an additional 595,203 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Molson Coors Beverage by 24.2% in the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock worth $170,265,000 after buying an additional 544,353 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on TAP shares. Barclays restated an “underweight” rating and issued a $50.00 price target (up previously from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Citigroup decreased their price objective on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Sanford C. Bernstein decreased their price objective on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a report on Wednesday, July 9th. Finally, Morgan Stanley decreased their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $56.62.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $46.60 on Thursday. Molson Coors Beverage Company has a 1 year low of $43.80 and a 1 year high of $64.66. The company has a market cap of $9.21 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 1.70 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a fifty day moving average of $48.07 and a 200-day moving average of $51.37.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company posted $1.92 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities analysts anticipate that Molson Coors Beverage Company will post 6.35 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.