Keybank National Association OH Sells 13,207 Shares of Molson Coors Beverage Company $TAP

Keybank National Association OH reduced its holdings in shares of Molson Coors Beverage Company (NYSE:TAP) by 25.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,870 shares of the company’s stock after selling 13,207 shares during the quarter. Keybank National Association OH’s holdings in Molson Coors Beverage were worth $1,869,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Principal Financial Group Inc. grew its stake in shares of Molson Coors Beverage by 14.7% in the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after buying an additional 30,463 shares in the last quarter. Nuveen LLC bought a new stake in Molson Coors Beverage during the first quarter worth $22,253,000. Jump Financial LLC lifted its stake in Molson Coors Beverage by 205.4% in the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after acquiring an additional 16,349 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Molson Coors Beverage by 7.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after acquiring an additional 1,606 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its stake in Molson Coors Beverage by 32.8% in the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock valued at $28,424,000 after acquiring an additional 115,186 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, September 30th. Evercore ISI cut their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday, August 6th. Sanford C. Bernstein cut their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, July 9th. Wells Fargo & Company cut their price target on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Finally, UBS Group cut their price target on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $56.62.

Molson Coors Beverage Trading Up 0.3%

TAP stock opened at $43.76 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The company has a fifty day moving average price of $47.10 and a two-hundred day moving average price of $50.51. Molson Coors Beverage Company has a one year low of $42.94 and a one year high of $64.66. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 8.63, a price-to-earnings-growth ratio of 1.60 and a beta of 0.63.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the business posted $1.92 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities analysts anticipate that Molson Coors Beverage Company will post 6.35 EPS 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.