Molson Coors Beverage Company $TAP Shares Purchased by Ranmore Fund Management Ltd

Ranmore Fund Management Ltd lifted its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 97.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 415,341 shares of the company’s stock after purchasing an additional 205,000 shares during the period. Molson Coors Beverage makes up about 8.0% of Ranmore Fund Management Ltd’s investment portfolio, making the stock its 8th biggest position. Ranmore Fund Management Ltd owned approximately 0.21% of Molson Coors Beverage worth $19,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in shares of Molson Coors Beverage by 414.3% during the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after acquiring an additional 1,600,748 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $38,377,000. Dimensional Fund Advisors LP grew its position in shares of Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after buying an additional 750,388 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its holdings in 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 buying an additional 579,649 shares during the period. Finally, Deutsche Bank AG boosted its stake in 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 acquiring an additional 544,353 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

Insider Transactions at Molson Coors Beverage

In related news, Director David S. Coors purchased 2,245 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, November 5th. The stock was purchased at an average cost of $44.47 per share, with a total value of $99,835.15. Following the completion of the transaction, the director owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.71% of the company’s stock.

Molson Coors Beverage Trading Up 0.7%

NYSE TAP opened at $47.16 on Wednesday. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 1.60 and a beta of 0.65. Molson Coors Beverage Company has a 52 week low of $42.94 and a 52 week high of $64.66. The stock’s 50 day moving average price is $46.34 and its two-hundred day moving average price is $49.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95.

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

Analyst Ratings Changes

TAP has been the topic of a number of analyst reports. UBS Group cut their price target on Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 5th. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a research note on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price target for the company. Roth Capital reissued a “buy” rating and set a $65.00 price objective (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Citigroup cut their target price on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Finally, The Goldman Sachs Group decreased their price target on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $54.56.

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.