Swedbank AB Cuts Holdings in Molson Coors Beverage (NYSE:TAP)

Swedbank AB decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,654 shares of the company’s stock after selling 640 shares during the period. Swedbank AB’s holdings in Molson Coors Beverage were worth $5,617,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Czech National Bank lifted its position in Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after purchasing an additional 149 shares during the period. Perpetual Ltd lifted its holdings 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 valued at $1,182,000 after buying an additional 197 shares during the period. Empirical Finance LLC boosted its stake in shares of Molson Coors Beverage by 3.5% in the 1st quarter. Empirical Finance LLC now owns 6,772 shares of the company’s stock worth $455,000 after buying an additional 226 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Molson Coors Beverage by 1.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock worth $1,000,000 after acquiring an additional 231 shares during the period. Finally, Affinity Investment Advisors LLC increased its position in Molson Coors Beverage by 2.9% during the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after acquiring an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.1 %

Molson Coors Beverage stock opened at $56.00 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm’s 50 day moving average price is $54.78 and its 200-day moving average price is $55.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The stock has a market cap of $11.86 billion, a P/E ratio of 11.20, a PEG ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, equities analysts predict that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of recent research reports. UBS Group boosted their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday. Citigroup cut their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company upped their price objective on Molson Coors Beverage from $50.00 to $54.00 and gave the stock an “underweight” rating in a research note on Wednesday, August 7th. Finally, Bank of America lowered their target price on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.43.

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.