Vanguard Group Inc. Purchases 300,512 Shares of Molson Coors Beverage (NYSE:TAP)

Vanguard Group Inc. lifted its stake in shares of Molson Coors Beverage (NYSE:TAP) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,742,326 shares of the company’s stock after acquiring an additional 300,512 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Molson Coors Beverage worth $1,059,965,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. IFM Investors Pty Ltd lifted its stake in shares of Molson Coors Beverage by 29.6% during the second quarter. IFM Investors Pty Ltd now owns 27,349 shares of the company’s stock worth $1,468,000 after buying an additional 6,248 shares during the period. Schroder Investment Management Group increased its holdings in Molson Coors Beverage by 48.1% in the first quarter. Schroder Investment Management Group now owns 1,796,764 shares of the company’s stock valued at $91,904,000 after buying an additional 583,818 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Molson Coors Beverage in the second quarter valued at $25,581,000. Red Door Wealth Management LLC purchased a new position in Molson Coors Beverage in the second quarter valued at $26,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Molson Coors Beverage by 63.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 18,432 shares of the company’s stock worth $990,000 after purchasing an additional 7,184 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Shares of TAP stock opened at $45.79 on Thursday. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of -17.89, a price-to-earnings-growth ratio of 1.96 and a beta of 1.10. The company has a quick ratio of 0.58, a current ratio of 0.74 and a debt-to-equity ratio of 0.51. Molson Coors Beverage has a fifty-two week low of $32.54 and a fifty-two week high of $61.48. The firm’s 50 day moving average price is $47.47 and its two-hundred day moving average price is $52.00.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Wednesday, July 28th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.24. Molson Coors Beverage had a negative net margin of 4.63% and a positive return on equity of 5.97%. The business had revenue of $2.94 billion during the quarter, compared to analyst estimates of $2.88 billion. On average, equities analysts forecast that Molson Coors Beverage will post 3.92 EPS for the current fiscal year.

Several analysts recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Molson Coors Beverage in a research note on Friday, July 16th. They set a “buy” rating and a $70.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Molson Coors Beverage from $56.00 to $53.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 28th. Finally, Barclays cut their target price on shares of Molson Coors Beverage from $53.00 to $48.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $54.73.

In related news, Director Louis Vachon acquired 3,000 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, September 8th. The stock was acquired at an average price of $46.04 per share, with a total value of $138,120.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.43% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Profile

Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: North America and Europe. The North America segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The Europe segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K., various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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