Molson Coors Beverage Company $TAP Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in Molson Coors Beverage Company (NYSE:TAP) by 0.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,124,660 shares of the company’s stock after selling 6,147 shares during the quarter. Bank of New York Mellon Corp owned approximately 2.04% of Molson Coors Beverage worth $198,355,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TAP. Ameriprise Financial Inc. raised its holdings in shares of Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock worth $120,960,000 after acquiring an additional 1,600,748 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Molson Coors Beverage in the second quarter valued at $38,377,000. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after purchasing an additional 750,388 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in shares of Molson Coors Beverage by 72.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,380,377 shares of the company’s stock valued at $84,024,000 after purchasing an additional 579,649 shares during the period. Finally, Deutsche Bank AG grew its position in shares of Molson Coors Beverage by 24.2% in the first quarter. Deutsche Bank AG now owns 2,797,189 shares of the company’s stock valued at $170,265,000 after purchasing an additional 544,353 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TAP shares. Jefferies Financial Group lowered their price objective on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating for the company in a research report on Tuesday. Morgan Stanley lowered their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Piper Sandler lowered their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Tuesday, September 30th. Sanford C. Bernstein lowered their price objective on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Needham & Company LLC lowered their price objective on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $54.87.

Molson Coors Beverage Price Performance

TAP stock opened at $45.19 on Thursday. The stock has a 50-day moving average price of $46.68 and a two-hundred day moving average price of $50.20. Molson Coors Beverage Company has a 12-month low of $42.94 and a 12-month high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The company has a market cap of $8.94 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, research analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

About Molson Coors Beverage

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.