725 Shares in Molson Coors Beverage (NYSE:TAP) Bought by Gladius Capital Management LP

Gladius Capital Management LP acquired a new stake in Molson Coors Beverage (NYSE:TAP) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 725 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in Molson Coors Beverage by 66.5% during the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after purchasing an additional 2,155,842 shares in the last quarter. Capital International Investors grew its position in shares of Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in shares of Molson Coors Beverage during the first quarter worth approximately $53,096,000. Millennium Management LLC increased its stake in shares of Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after buying an additional 645,847 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after acquiring an additional 434,685 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group boosted their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays boosted their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $60.31.

Molson Coors Beverage Trading Down 0.5 %

Molson Coors Beverage stock opened at $62.42 on Friday. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.42 and a beta of 0.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a 50-day moving average price of $56.23 and a two-hundred day moving average price of $54.34.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business posted $1.92 EPS. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. Sell-side analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current year.

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.