Brown Brothers Harriman & Co. Sells 595 Shares of Molson Coors Beverage (NYSE:TAP)

Brown Brothers Harriman & Co. lowered its stake in shares of Molson Coors Beverage (NYSE:TAP) by 3.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,305 shares of the company’s stock after selling 595 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Molson Coors Beverage were worth $822,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TAP. Red Door Wealth Management LLC bought a new stake in shares of Molson Coors Beverage in the second quarter valued at approximately $26,000. Zions Bancorporation N.A. boosted its position in shares of Molson Coors Beverage by 90.5% in the first quarter. Zions Bancorporation N.A. now owns 522 shares of the company’s stock valued at $27,000 after acquiring an additional 248 shares during the period. SkyView Investment Advisors LLC boosted its position in shares of Molson Coors Beverage by 318.9% in the first quarter. SkyView Investment Advisors LLC now owns 553 shares of the company’s stock valued at $28,000 after acquiring an additional 421 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Molson Coors Beverage by 281.6% in the second quarter. Exchange Traded Concepts LLC now owns 561 shares of the company’s stock valued at $30,000 after acquiring an additional 414 shares during the period. Finally, Van ECK Associates Corp bought a new stake in shares of Molson Coors Beverage in the first quarter valued at approximately $35,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE TAP opened at $45.79 on Thursday. The business has a fifty day simple moving average of $47.47 and a 200 day simple moving average of $52.00. The company has a current ratio of 0.74, a quick ratio of 0.58 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of -17.89, a PEG ratio of 1.96 and a beta of 1.10. Molson Coors Beverage has a one year low of $32.54 and a one year high of $61.48.

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

In related news, Director Louis Vachon acquired 3,000 shares of the company’s stock in a transaction on Wednesday, September 8th. The stock was purchased at an average cost of $46.04 per share, for a total transaction of $138,120.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.43% of the company’s stock.

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

Molson Coors Beverage Company 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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