Molson Coors Beverage Company $TAP Shares Purchased by Empirical Finance LLC

Empirical Finance LLC raised its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 53.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,109 shares of the company’s stock after acquiring an additional 8,718 shares during the quarter. Empirical Finance LLC’s holdings in Molson Coors Beverage were worth $1,207,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of TAP. Traub Capital Management LLC purchased a new position in Molson Coors Beverage during the 2nd quarter worth approximately $430,000. Vanguard Group Inc. increased its holdings in shares of Molson Coors Beverage by 0.4% in the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock valued at $1,019,934,000 after purchasing an additional 92,058 shares during the period. Nomura Asset Management Co. Ltd. raised its stake in shares of Molson Coors Beverage by 0.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 61,496 shares of the company’s stock worth $2,957,000 after purchasing an additional 538 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of Molson Coors Beverage during the second quarter worth $845,000. Finally, Intech Investment Management LLC grew its position in Molson Coors Beverage by 231.6% in the 2nd quarter. Intech Investment Management LLC now owns 214,306 shares of the company’s stock valued at $10,306,000 after buying an additional 149,670 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director David S. Coors bought 2,245 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were purchased at an average price of $44.47 per share, with a total value of $99,835.15. Following the purchase, the director directly owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. The trade was a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrew Thomas Molson bought 7,500 shares of the business’s stock in a transaction on Monday, November 10th. The stock was purchased at an average price of $46.79 per share, with a total value of $350,925.00. Following the completion of the transaction, the director directly owned 22,654 shares of the company’s stock, valued at $1,059,980.66. This trade represents a 49.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 2.71% of the company’s stock.

Molson Coors Beverage Price Performance

TAP opened at $45.53 on Friday. Molson Coors Beverage Company has a 1 year low of $42.94 and a 1 year high of $64.66. The company’s 50 day simple moving average is $45.83 and its 200 day simple moving average is $49.36. The stock has a market capitalization of $9.00 billion, a PE ratio of 8.98, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, November 4th. The company reported $1.67 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.05). The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, sell-side analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on TAP shares. Citigroup lowered their target price on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Barclays lowered their price objective on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating on the stock in a report on Thursday, November 6th. Roth Capital reiterated a “buy” rating and set a $65.00 target price (down previously from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. Evercore ISI reduced their price target on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. Finally, Piper Sandler decreased their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 30th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average price target of $54.37.

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.