Molson Coors Beverage Company $TAP Stock Acquired by Ethic Inc.

Ethic Inc. grew its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 20.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,795 shares of the company’s stock after acquiring an additional 17,784 shares during the period. Ethic Inc.’s holdings in Molson Coors Beverage were worth $3,895,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TAP. Parallel Advisors LLC boosted its position in shares of Molson Coors Beverage by 6.8% during the 3rd quarter. Parallel Advisors LLC now owns 6,017 shares of the company’s stock valued at $219,000 after purchasing an additional 385 shares in the last quarter. Villanova Investment Management Co bought a new stake in Molson Coors Beverage in the third quarter worth approximately $515,000. Kestra Private Wealth Services LLC increased its holdings in Molson Coors Beverage by 9.4% in the third quarter. Kestra Private Wealth Services LLC now owns 42,102 shares of the company’s stock worth $1,535,000 after purchasing an additional 3,612 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Molson Coors Beverage by 81.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 35,800 shares of the company’s stock worth $1,306,000 after purchasing an additional 16,058 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $123,000. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Price Performance

TAP stock opened at $39.89 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.86 and a quick ratio of 0.60. The company’s 50-day moving average is $38.92 and its 200-day moving average is $42.20. The stock has a market capitalization of $8.36 billion, a PE ratio of 8.49 and a beta of 0.45. Molson Coors Beverage Company has a 1 year low of $35.52 and a 1 year high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 5th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. Molson Coors Beverage had a return on equity of 8.92% and a net margin of 6.95%. The business had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts expect that Molson Coors Beverage Company will post 4.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on TAP shares. Zacks Research cut Molson Coors Beverage from a “hold” rating to a “strong sell” rating in a report on Monday, October 19th. Barclays raised their price objective on shares of Molson Coors Beverage from $36.00 to $40.00 and gave the stock an “underweight” rating in a research report on Monday. Wells Fargo & Company lowered shares of Molson Coors Beverage from an “equal weight” rating to a “strong sell” rating and lowered their price objective for the company from $38.00 to $36.00 in a research note on Friday, November 6th. Weiss Ratings upgraded shares of Molson Coors Beverage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $41.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $42.41.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a global brewer and beverage company with roots in the 18th-century Molson brewery in Canada and the 19th-century Coors brewery in Colorado. The businesses combined in 2005, and the company is headquartered in Chicago and Montreal. Its portfolio includes beer brands such as Coors Light, Miller Lite, Molson Canadian, Coors Banquet and Blue Moon, as well as other alcoholic and nonalcoholic beverages. The company brews, markets and distributes its products through its own operations and partner arrangements.