Molson Coors Beverage (NYSE:TAP) Shares Purchased by Aviance Capital Partners LLC

Aviance Capital Partners LLC increased its stake in Molson Coors Beverage (NYSE:TAP) by 22.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,070 shares of the company’s stock after acquiring an additional 5,139 shares during the period. Aviance Capital Partners LLC’s holdings in Molson Coors Beverage were worth $1,615,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TAP. iA Global Asset Management Inc. lifted its holdings in shares of Molson Coors Beverage by 117.5% in the first quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock valued at $2,124,000 after buying an additional 17,062 shares during the period. Wakefield Asset Management LLLP boosted its position in shares of Molson Coors Beverage by 124.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after purchasing an additional 29,552 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth approximately $3,842,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Molson Coors Beverage by 105.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,437 shares of the company’s stock worth $17,459,000 after purchasing an additional 132,893 shares in the last quarter. Finally, Bessemer Group Inc. lifted its stake in Molson Coors Beverage by 390.1% during the first quarter. Bessemer Group Inc. now owns 32,612 shares of the company’s stock valued at $2,193,000 after purchasing an additional 25,958 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

TAP opened at $61.89 on Tuesday. The stock has a fifty day moving average price of $56.35 and a 200 day moving average price of $54.35. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 2.42 and a beta of 0.82.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays raised their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, TD Cowen dropped their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average price target of $60.31.

Molson Coors Beverage Company 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.