Molson Coors Beverage (NYSE:TAP) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. cut its stake in Molson Coors Beverage (NYSE:TAP) by 3.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,305 shares of the company’s stock after selling 595 shares during the period. Brown Brothers Harriman & Co.’s holdings in Molson Coors Beverage were worth $822,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Avitas Wealth Management LLC boosted its position in shares of Molson Coors Beverage by 0.7% in the first quarter. Avitas Wealth Management LLC now owns 28,829 shares of the company’s stock worth $1,475,000 after acquiring an additional 205 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Molson Coors Beverage by 3.2% in the second quarter. Sunbelt Securities Inc. now owns 7,102 shares of the company’s stock worth $359,000 after acquiring an additional 220 shares during the last quarter. Berman Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 18.4% in the second quarter. Berman Capital Advisors LLC now owns 1,454 shares of the company’s stock worth $78,000 after acquiring an additional 226 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Molson Coors Beverage by 3.0% in the second quarter. Private Advisor Group LLC now owns 8,073 shares of the company’s stock worth $433,000 after acquiring an additional 232 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Molson Coors Beverage by 1.0% in the second quarter. Mutual of America Capital Management LLC now owns 24,333 shares of the company’s stock worth $1,306,000 after acquiring an additional 242 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

NYSE TAP opened at $45.79 on Thursday. The company’s fifty day simple moving average is $47.47 and its 200-day simple moving average is $52.00. Molson Coors Beverage has a 52 week low of $32.54 and a 52 week high of $61.48. 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 stock has a market cap of $9.93 billion, a P/E ratio of -17.89, a PEG ratio of 1.96 and a beta of 1.10.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Wednesday, July 28th. The company reported $1.58 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 for the quarter, compared to analysts’ expectations of $2.88 billion. On average, research analysts expect that Molson Coors Beverage will post 3.92 EPS for the current fiscal year.

A number of brokerages have weighed in on TAP. Wells Fargo & Company reduced their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 28th. Barclays reduced their price target on shares of Molson Coors Beverage from $53.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 16th. Finally, Jefferies Financial Group began coverage on shares of Molson Coors Beverage in a research report on Friday, July 16th. They set a “buy” rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus target price of $54.73.

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

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.

Further Reading: What is the Gross Domestic Product (GDP)?

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

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