Molson Coors Beverage (NYSE:TAP) Shares Acquired by Oldfield Partners LLP

Oldfield Partners LLP raised its stake in Molson Coors Beverage (NYSE:TAP) by 24.1% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,200 shares of the company’s stock after buying an additional 1,400 shares during the quarter. Molson Coors Beverage makes up about 0.1% of Oldfield Partners LLP’s investment portfolio, making the stock its 25th largest holding. Oldfield Partners LLP’s holdings in Molson Coors Beverage were worth $414,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TAP. Nordea Investment Management AB raised its holdings in shares of Molson Coors Beverage by 153.7% during the first quarter. Nordea Investment Management AB now owns 25,830 shares of the company’s stock valued at $1,730,000 after buying an additional 15,648 shares during the last quarter. iA Global Asset Management Inc. increased its stake in Molson Coors Beverage by 117.5% during the 1st 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 lifted its stake in shares of Molson Coors Beverage by 124.5% in the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after acquiring an additional 29,552 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Molson Coors Beverage by 220.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 489,371 shares of the company’s stock valued at $32,910,000 after acquiring an additional 336,496 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new stake in Molson Coors Beverage during the second quarter worth approximately $3,842,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $55.72 on Tuesday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 business’s fifty day moving average price is $54.86 and its two-hundred day moving average price is $55.18. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 11.14, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81.

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

Analyst Ratings Changes

TAP has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their target price on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. Barclays upped their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, UBS Group raised their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average 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.